ASA Welcomes SEC Proposal to Modernize Corporate Disclosure with Semi-Annual Reporting Option

WASHINGTON – The American Securities Association (ASA) today welcomed the Securities and Exchange Commission's (SEC) proposal to give public companies the option to shift from mandatory quarterly reporting to semi-annual reporting.

“ASA applauds Chairman Atkins for striking the right balance with this pragmatic proposal, giving companies the flexibility to choose the reporting cadence that best serves their business, industry and investors, without mandating a one-size-fits-all approach across the market,” said ASA President and CEO Chris Iacovella. “The companies that want to continue reporting quarterly can and will, while those navigating the compliance costs of going and staying public would have a less burdensome path forward. What’s important is investors will continue to receive every piece of material information they need to make investment decisions under the 8-K process, regardless of whether these reforms are enacted.”

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The American Securities Association (ASA) represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.