SEC/TRUMP AS PRESIDENT: “U.S. President Donald Trump said Friday {8-17-18] that he wanted the Securities and Exchange Commission (SEC) to explore doing away with quarterly corporate reports, replacing them with filings every six months. In a tweet, he argued a longer time frame would ‘allow greater flexibility & save money.’ But any such policy change from the SEC would likely face a long and uncertain path to becoming reality…The SEC is independent of the administration and sets its own agenda. The president cannot directly order it to pursue specific changes…While Trump cannot force Clayton to make changes, as a matter of courtesy the SEC chairman may promise to study the issue. Staff would likely perform its own research, examine existing academic literature and take on board industry feedback to begin to build the foundation for potential rule-changes. Regulators can conduct studies of their own volition, or will do so at the request of Congress, the president, or the public. But there is no guarantee a study will lead to policymaking or regulatory changes.”
–Reuters Staff, “It will be tough for Trump’s SEC to overhaul reporting rules,” Reuters, August 17, 2018 9:35 am