President Trump has reignited his push to overhaul corporate disclosure rules, calling for public companies to report earnings twice a year instead of quarterly.

In a Truth Social post, Trump argued that less frequent reporting would cut costs and free executives to focus on running their businesses.

He described the current quarterly system as wasteful and claimed that it encourages short-term thinking over long-term strategy.

Since 1970, US-listed companies have been required to file earnings every three months.

Any shift to a semi-annual schedule would be controversial, with investors and analysts insisting that regular reports are necessary for market transparency.

Critics warn that reducing disclosure could heighten volatility and leave shareholders in the dark.

Trump attempted a similar reform during his first term, but the proposal failed to gain traction.

The Securities and Exchange Commission, led by chair Paul Atkins, has long been critical of rules it views as an unnecessary burden. The regulator has not yet commented on Trump’s latest call.

Momentum is building among some market players.

Less reporting means less admin work, but also less transparency

The Long-Term Stock Exchange confirmed last week that it intends to petition the SEC to allow semi-annual reporting. (This San Francisco-based exchange, launched in 2020, was founded to encourage companies to prioritise long-term strategy over short-term results.)

Warren Buffett and JPMorgan Chase CEO Jamie Dimon have also spoken out against quarterly guidance, arguing that it prioritises short-term profits at the expense of long-term health.

Trump added a geopolitical spin, contrasting US practices with China’s “50 to 100 year view” of corporate management.

(Chinese companies are required to file quarterly reports if listed on mainland exchanges, though not if listed on the Stock Exchange of Hong Kong.)

The President also argued that adopting a six-month reporting cycle would bring American markets closer to those of the UK and the European Union, where semi-annual filings are common.

While supporters say the change could attract more listings and ease pressure on executives, opponents remain adamant that quarterly results are vital for market confidence.

For Australian investors and companies, any US shift could spark fresh debate about whether local reporting rules also need to evolve to balance transparency with long-term business strategy.