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Recent Editions
Risk Channel
North America
The Securities and Exchange Commission (SEC) has proposed allowing publicly traded companies to replace quarterly earnings reports with twice-yearly filings, marking a major potential shift in corporate reporting requirements that have existed for more than five decades. The proposal, backed by SEC Chair Paul Atkins and long supported by President Donald Trump, would end the requirement for companies to publish detailed financial results every quarter within 45 days of the end of each reporting period. Companies choosing semiannual reporting would instead disclose results twice a year by selecting the option in their annual SEC filings. Supporters, including some exchanges and large corporations such as JPMorgan Chase, argue that quarterly reporting imposes significant administrative costs, encourages short-term decision-making, and discourages companies from going public. Nasdaq has also argued that the current system creates a disproportionate burden for smaller businesses. However, investors and asset managers warned that less frequent reporting could reduce market transparency, increase volatility, and widen information gaps between institutional investors and ordinary shareholders. Critics said quarterly disclosures help maintain fairness and provide timely information for evaluating company performance and allocating capital.
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Risk Channel
UK/Europe
European Central Bank President Christine Lagarde has called on Europe to reduce its reliance on fossil fuels and energy imports amid soaring energy costs due to the Iran war. “Today’s surging energy prices are a reminder of the cost of that dependency,” she said. “Alternative sources of energy offer the clearest path to minimizing the trade-offs between Europe’s energy-policy goals of security, sustainability and affordability.” Lagarde told a climate conference in Frankfurt that the status quo is “clearly unsustainable.” Europe imports about 60% of its energy, almost all of it fossil fuels.
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