Gate News reports that on March 17, the U.S. SEC is drafting a key regulatory reform aimed at eliminating mandatory quarterly financial disclosures for publicly traded companies, replacing them with only two performance reports per year. The proposal is expected to be officially introduced in April 2026. If implemented, it could become one of the most significant regulatory changes in the U.S. capital markets in decades.
Under the current plan, this move would significantly reduce compliance costs for companies. Market estimates suggest that maintaining the quarterly reporting system costs companies billions of dollars annually. Regulators and some business groups believe that reducing disclosure frequency will help management teams focus less on short-term performance pressures and allocate more resources to long-term strategic planning and business development.
However, this reform also faces controversy. Analysts point out that quarterly reports are a crucial basis for investors to assess a company’s operational health, especially since retail investors and research institutions heavily rely on regular data to identify potential risks. A decrease in disclosure frequency could lead to increased information asymmetry in the market, thereby reducing transparency.
Additionally, slowing the pace of information updates may amplify market volatility. Reduced disclosure of fundamental company data could cause investment decisions to rely more on expectations and sentiment, increasing price instability. Historical experience shows that changes in capital market regulations often alter capital allocation patterns and influence overall risk appetite.
It is worth noting that the potential impacts of this policy are not limited to the stock market. Changes in liquidity and transparency in the U.S. equities market could transmit through capital flows to the digital asset space, indirectly affecting major cryptocurrencies like Bitcoin and Ethereum. Especially as institutional investor participation continues to grow, structural changes in traditional markets may become new drivers for the crypto market.
Currently, the proposal is still under internal review, and its official implementation in 2026 remains uncertain. However, it is clear that once the regulatory adjustment is enacted, the information disclosure logic of the U.S. capital markets will undergo profound changes.
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