Nasdaq supports reforms to reduce burden on public companies, CEO Friedman says

Core Viewpoint - Nasdaq CEO Adena Friedman supports allowing public companies to choose between quarterly and semi-annual reporting to alleviate the reporting burden and combat short-termism in corporate America [1][2]. Group 1: Reporting Frequency - Friedman advocates for the option of semi-annual reporting, which could reduce the friction and costs associated with being a public company [2]. - Currently, U.S. regulations require companies to report financial statements every 90 days, while half-yearly reporting would align the U.S. with the UK and several EU countries [3]. Group 2: Economic Impact - Reducing the reporting burden could energize U.S. capital markets and stimulate economic growth [2]. - Previous discussions among top Wall Street executives have highlighted the need for reforms to ease regulations for public companies [3]. Group 3: Historical Context - In 2018, corporate leaders like Jamie Dimon and Warren Buffett expressed concerns that short-termism, driven by quarterly reporting, was detrimental to the U.S. economy [5]. - Nasdaq has previously proposed streamlining reporting requirements and standardizing earnings press releases to potentially replace the quarterly Form 10-Q [2].