Trump says asking SEC to consider ending quarterly earnings reports

President Donald Trump said he had asked stock market regulators to look into ending the requirement for businesses to issue quarterly earnings reports.

Asking the Securities and Exchange Commission -- an independent agency -- to move to twice-yearly reporting could help create jobs, Trump said on Twitter.

"In speaking with some of the world's top business leaders I asked what it is that would make business (jobs) even better in the US. 'Stop quarterly reporting & go to a six month system,' said one. That would allow greater flexibility & save money," he tweeted.

"I have asked the SEC to study!" He later attributed the suggestion to PepsiCo chief Indra Nooyi, who last week announced she was stepping down in early October.

He told reporters "the head of Pepsi-Cola, a great woman who is now retiring... I asked, what could we do to make it better? She said, two times a year reporting, not quarterly."
SEC Chairman Jay Clayton issued a statement saying the agency "continues to study public company reporting requirements, including the frequency of reporting."
And he said, the SEC already had implemented some regulatory changes and continued to consider others that "encourage long-term capital formation while preserving and, in many instances, enhancing key investor protections."