IF, huge IF, brk went to semiannual reporting how often would they disclose buyback numbers? Regardless of the reg brk should continue to report quarterly.

 
 
 
SEC Proposes Allowing Companies to Ditch Quarterly Reports
 
President Trump and SEC Chair Paul Atkins have touted the benefits of less frequent financial reporting, saying it would save money, shift management to a longer term focus, and possibly encourage more companies to go public. That time is here, with a proposal to allow companies to report semiannually, instead.

 
• It’s unclear how many companies would eventually make the change, but some investor groups are uneasy about the idea. Companies that report semiannually would stop filing three 10-Q forms and an annual report and instead file one new 10-S form and the annual report, the proposal says.

 
• The SEC decades ago allowed companies to report twice a year but began to require quarterly reports in 1970. The Investment Company Institute, whose members include mutual funds, said any changes should balance reducing unnecessary compliance burdens and preserving quality disclosures.

 
• Likewise, the Managed Funds Association, a trade group for hedge funds and other asset managers says it shares the goal of reducing burdens on public companies, but any changes “must balance that objective with the needs of investors.”

 
• While Atkins says more companies might consider public listings, skeptics of that view said the decline in initial public offerings in recent decades has been driven mostly by the rise of large venture-capital firms that can satisfy companies’ funding needs.

 
What’s Next: The SEC said it would officially publish the proposal in the Federal Register in the next few days, after which the public can comment on the rule for 60 days. Then the SEC will consider the comments and publish a final rule.

 
—Joe Light and Janet H. Cho