Bessent: Trump's push to scrap quarterly company reports will be a win for investors

Core Viewpoint - President Trump's proposal to eliminate quarterly earnings reports in favor of semiannual reporting aims to reduce costs for public companies and allow executives to focus on long-term goals rather than short-term metrics [1][2][3]. Group 1: Impact on Public Companies - The number of publicly listed companies in the U.S. has decreased from over 7,000 in 1996 to less than 4,000 in 2020, indicating a trend towards private ownership partly due to the burdens of quarterly reporting [2]. - Companies in the U.K. and European Union report semiannually but can opt for quarterly reports, suggesting a flexible approach to financial reporting [4]. Group 2: Investor Perspectives - Some investors argue that quarterly earnings reports enhance transparency and protect their interests, with the Council of Institutional Investors (CII) expressing concerns that a lack of quarterly reporting may not sufficiently safeguard investors [4]. - Foreign companies listed in the U.S. under the foreign private issuer scheme, such as Arm and Spotify, are exempt from quarterly reporting but some choose to report quarterly voluntarily, highlighting a divergence in reporting practices [5].