Currently, the U.S. Securities and Exchange Commission (SEC) requires all companies whose stocks are traded on American exchanges to publish financial reports every quarter. As reported by sources from The Wall Street Journal, this rule may soon be abolished.
According to the newspaper, the regulator plans to allow companies to report only twice a year — they could still issue reports more frequently if they wish, though it would not be mandatory.
It is reported that the SEC is currently negotiating possible changes to the rules with representatives of the largest U.S. exchanges. If The Wall Street Journal is to be believed, the regulator will publicly announce its proposal in April, after which it will be subject to public discussion, typically lasting at least a month. Then the SEC will hold a vote, which will either approve or reject the proposal.
As The Wall Street Journal adds, the initial idea to waive mandatory quarterly reporting was proposed by the Long-Term Stock Exchange, which approached the SEC with it last September. The proposal was soon supported by U.S. President Donald Trump.
It is worth noting that many gaming companies' stocks are represented on U.S. exchanges. Among them are Take-Two Interactive, Electronic Arts, Roblox, GDEV, Playtika, and several others.
The SEC itself has not commented on The Wall Street Journal's information.