SEC Seeks Comments on Earnings, Quarterly Report Changes

The agency also wants feedback on how it can promote efficiency in periodic reporting "by reducing unnecessary duplication in the information that reporting companies disclose and how any such changes could affect capital formation, while enhancing, or at a minimum maintaining, appropriate investor protection."

Other areas open for debate include whether the SEC should allow reporting companies, or certain classes of reporting companies, flexibility as to the frequency of their periodic reporting.

Also, how "the existing periodic reporting system, earnings releases and earnings guidance (either standing alone or in combination with other factors) may affect corporate decision making and strategic thinking, including whether these factors foster an inefficient outlook among reporting companies and market participants by focusing on short-term results."

The SEC lists the earnings and quarterly reports comment request as an item on its Wednesday open meeting agenda.

The agency is also set to consider on Wednesday whether to propose a new rule and rule amendments to allow funds to acquire shares of other funds (i.e., "fund of funds" arrangements), including arrangements involving exchange-traded funds, without first obtaining exemptive orders from the Commission.

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