Most investors oppose semiannual reporting option: CFA Institute

Insight summary

• •62% of financial analysts and portfolio managers oppose replacing quarterly financial reporting with semiannual reports.
• •70% oppose allowing companies to choose their own financial reporting frequency, opposing an SEC proposal.
• •The CFA Institute warns that removing quarterly reporting could cause significant harm to U.S. capital markets.
• •Quarterly reports are valued for ensuring transparency, comparability, liquidity, and investor confidence.
• •82% would support voluntary quarterly reporting if semiannual reports become mandatory, but only 32% expect companies to keep quarterly filings.
• •Half of respondents want more detailed interim disclosures if reporting frequency is reduced.
• •85% believe management incentives, not reporting frequency, drive long-term decision-making.