According to @business, Donald Trump suggested abandoning quarterly earnings in favor of a semi-annual schedule, prompting questions about how such a change could be implemented for U.S. public companies. Source: bloomberg.com/news/articles/2025-09-18/trump-proposes-ending-quarterly-earnings-reports-what-s-at-stake Under current rules, domestic issuers must file Form 10-Q after each fiscal quarter under SEC Rule 13a-13 (17 CFR 240.13a-13). Source: ecfr.gov/current/title-17/chapter-II/part-240/section-240.13a-13 Shifting to semi-annual reporting would require the SEC to propose and adopt rule amendments through notice-and-comment under the Administrative Procedure Act, consistent with the SEC’s published rulemaking process. Sources: sec.gov/rules/rulemaking-process and law.cornell.edu/uscode/text/5/553 Congress also has authority to change the reporting framework by amending Securities Exchange Act Section 13(a) or directing the SEC to adjust periodic reporting frequency. Source: law.cornell.edu/uscode/text/15/78m The SEC previously solicited public input on the frequency and content of quarterly reporting in its 2019 Request for Comment on Earnings Releases and Quarterly Reports, indicating agency precedent for reviewing this issue. Source: sec.gov/rules/other/2019/33-10634.pdf There is international precedent: the EU removed mandatory quarterly reporting via Directive 2013/50/EU, and the UK FCA eliminated interim management statement requirements in 2014. Sources: eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32013L0050 and fca.org.uk/publication/policy/ps14-15.pdf For traders, research shows earnings announcements are associated with elevated systematic risk and volatility at the aggregate level, so fewer reporting windows would concentrate event risk into tighter periods. Source: papers.ssrn.com/sol3/papers.cfm?abstract_id=1784020 Because crypto markets have become more correlated with U.S. equities since 2020, earnings-driven equity volatility can transmit to digital assets like BTC and ETH, warranting closer positioning and hedging around reporting clusters. Source: imf.org/en/Blogs/Articles/2022/01/11/crypto-prices-move-more-in-sync-with-stocks-posing-new-risks