Core Viewpoint - The proposal to reduce the frequency of earnings reports from quarterly to semiannual is likely to increase market volatility and promote insider trading, ultimately disadvantaging retail investors and reducing transparency [1][3][6]. Investor Sentiment - Most investors are not in favor of reducing the frequency of earnings reports, with institutional investors such as pension funds advocating for more transparency [6][10][22]. - The current trend in financial markets is towards shorter business cycles and more frequent trading, which relies heavily on quarterly earnings reports [7][8]. Potential Issues - Reducing the frequency of reports could lead to larger surprises in earnings announcements, increasing volatility and the risk of significant market movements [2][17]. - There is concern that less frequent reporting could create an environment conducive to insider trading, as portfolio managers may seek non-public information [3][23]. Reporting Frequency - While some suggest that companies could report even more frequently than quarterly, the consensus leans towards maintaining or increasing the frequency of reporting to ensure investors have access to timely information [11][13]. - The idea of aligning reporting schedules with the calendar year is preferred for its simplicity and ease of understanding [19][20]. Conclusion - Overall, the proposal to limit earnings reports is met with skepticism from investors, who value transparency and timely information to make informed decisions [6][10][22].