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Many countries that have developed markets only require reporting on a semiannual basis, including the U.K. and members of the European Union. During his first term, Trump also brought up the idea of switching back to a semiannual reporting structure to discourage short-termism and slash costs for companies. While the SEC sought public comment on the matter in 2018, the regulator didn’t end up implementing any changes. This time around, however, SEC Chairman Paul Atkins is “prioritizing this proposal to further eliminate unnecessary regulatory burdens on companies,” according to a spokesperson for the agency.
It will be a test of Fed Chairman Jay Powell’s ability to build a consensus in the face of a president who doesn’t think he’s up to the job. And a deadlock isn’t out of the realm of possibility.
The passage was a challenge, as a group of Republicans had initially opposed the measure. A drawn-out struggle on the floor was able to flip most of the group to yes votes, Politico reported. The three GOP representatives that voted no are Reps. Kevin Kiley of California, Thomas Massie of Kentucky, and Victoria Spartz of Indiana.
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