Trump says companies, corporations should not be required to report quarterly

FILE PHOTO: U.S. President Donald Trump

(Reuters) -President Donald Trump on Monday pushed for the U.S. Securities and Exchange Commission to stop requiring quarterly earnings reports from companies and corporations and have them report on a six-month basis instead.

“This will save money, and allow managers to focus on properly running their companies,” he wrote in a Truth Social post.

“Did you ever hear the statement that, ‘China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis??? Not good!!!

The Republican president asked the SEC to consider eliminating the requirements for public companies during his first White House term, 2017-21.

(Reporting by Brendan O’Brien and Doina Chiacu;)