U.S. companies should be allowed to report earnings every six months instead of on a quarterly basis, President Donald Trump said on Monday, in what would be a major shift for corporate America, if regulators take up his call.

The idea, which revisits a similar call Trump made in 2018, is subject to the approval of the U.S. Securities and Exchange Commission, the president said on his social media site Truth Social, adding that it would cut costs and discourage shortsightedness.

“This will save money, and allow managers to focus on properly running their companies,” he said. Currently, the SEC requires corporations to report their financial statements every 90 days. Half-yearly reporting would mark a huge change in disclosure requirements and put the U.S. in line with the U.K. and severa

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