WASHINGTON, D.C. — Mike Flood, senior vice president of the Center for Capital Markets Competitiveness at the U.S. Chamber of Commerce, issued the following statement in response to the Securities and Exchange Commission's proposal allowing optional quarterly reporting:
“We commend the SEC for reconsidering this one-size-fits-all approach to quarterly reporting. Transparency and disclosure are vital to healthy and efficient capital markets, but when reporting requirements make it harder and more costly for companies to go and stay public, these rules should be reevaluated.
"Allowing optional quarterly reporting would reduce unnecessary burdens, strengthen the environment for public companies, free up valuable time and resources, and empower businesses to focus on long-term value for their shareholders. Even with added flexibility, many issuers would likely continue quarterly reporting voluntarily. We applaud the SEC for its commitment to modernizing disclosure requirements and strengthening our public markets.”
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The U.S. Chamber of Commerce is the world’s largest business organization representing companies of all sizes across every sector of the economy. Our members range from the small businesses and local chambers of commerce that line the Main Streets of America to leading industry associations and large corporations.
They all share one thing: They count on the U.S. Chamber to be their voice in Washington, across the country, and around the world. For more than 100 years, we have advocated for pro-business policies that help businesses create jobs and grow our economy.
