CFP Board Urges SEC to Preserve Quarterly Reporting Requirements

On July 6, 2026, CFP Board submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) urging it to withdraw its proposal to permit public companies to file semiannual reporting instead of quarterly reports. In its letter, CFP Board emphasizes that timely, standardized quarterly disclosures are essential to retail investor protection and market transparency, as well as fraud detection, corporate accountability, and regulatory oversight.

"Quarterly reporting gives retail investors and the financial professionals who serve them a reliable baseline of timely, comparable information," said Erin Koeppel, J.D., Managing Director, Government Relations & Public Policy Counsel at CFP Board. "Reducing that cadence would widen information gaps, weaken transparency, make fraud harder to detect, and make it harder for investors to make informed decisions."

CFP Board warns that moving away from mandatory quarterly reporting could disadvantage retail investors, increase reliance on less standardized private data sources and reduce the regular checkpoints that help investors, analysts, auditors, regulators and other market participants identify risks and evaluate company performance. The letter also notes that allowing companies to choose between quarterly and semiannual reporting could make it more difficult for investors and financial professionals to compare issuers and assess trends across companies and industries.

CFP Board supports strong public markets and efforts to expand capital formation but maintains that those goals should not come at the expense of investor protections that help public markets function fairly and efficiently.

Read the full letter.