On December 18, the Securities and Exchange Commission published a request for comment on the “nature, content, and timing of earnings releases and quarterly reports.” In the announcement, SEC Chair Jay Clayton refers to the “ongoing debate regarding…mandated quarterly reports and the prevalence of optional quarterly guidance”.
The SEC’s request appears to result from a Presidential tweet in August, suggesting that semi-annual, rather than quarterly, reporting would “make business (jobs) even better”, and asking the SEC to study the matter. In commenting on the matter in October, Chair Clayton said he didn’t think that “quarterly reporting is going to change for our top names anytime soon.”
Further details on this matter will be available shortly on The Securities Edge, our securities and governance blog. If you have any questions in the meantime, please contact Gunster securities law and corporate governance practice leader Bob Lamm.
Yes! Please sign me up to receive email alerts from other Gunster practice areas.
This publication is for general information only. It is not legal advice, and legal counsel should be contacted before any action is taken that might be influenced by this publication.
About Gunster
Gunster, Florida’s law firm for business, provides full-service legal counsel to leading organizations and individuals from its 13 offices statewide. Established in 1925, the firm has expanded, diversified and evolved, but always with a singular focus: Florida and its clients’ stake in it. A magnet for business-savvy attorneys who embrace collaboration for the greatest advantage of clients, Gunster’s growth has not been at the expense of personalized service but because of it. The firm serves clients from its offices in Boca Raton, Fort Lauderdale, Jacksonville, Miami, Naples, Orlando, Palm Beach, Stuart, Tallahassee, Tampa Bayshore, Tampa Downtown, Vero Beach, and its headquarters in West Palm Beach. With more than 280 attorneys and consultants, and over 290 committed professional staff, Gunster is ranked among the National Law Journal’s list of the 500 largest law firms and has been recognized as one of the Top 100 Diverse Law Firms by Law360. More information about its practice areas, offices and insider’s view newsletters is available at www.gunster.com.
