Defining Issues  |  March 2019
 

SEC solicits input on quarterly reporting requirements

KPMG reports on the SEC’s request for comment on the nature and timing of disclosures required in Form 10-Q.  The SEC also seeks input on promoting efficiency and flexibility to the existing periodic reporting system, and the effect that current requirements have on corporate decision making.

Applicability

Release No. 33-10588; 34-84842; File No. S7-26-18

  • Public companies with quarterly reporting requirements

Relevant dates

Comments are due on or before March 21, 2019.

Key impacts

The request for comment seeks input on:

  • The nature and timing of quarterly disclosures, including areas of potential overlap with earnings releases
  • Efficiencies that reduce unnecessary duplication of information in quarterly filings while maintaining appropriate investor protection
  • The appropriate frequency of periodic reporting
  • How the current system may affect decision making and strategic thinking, including whether it fosters an overly short-term focus by investors