US regulators want to make corporate earnings reports less frequent, but investors have doubts

A new financial reporting proposal, pitched by Securities and Exchange Commission Chair Paul Atkins, has generated enormous opposition, from ordinary savers to industry groups. AP Photo/Yuki Iwamura

The U.S. government has pitched an obscure accounting rule change that has ignited a firestorm of opposition. If enacted, its effects might be felt from the capital markets to your retirement savings account.

At issue is a proposal by the Securities and Exchange Commission that would scrap a long-standing requirement for registered companies to disclose their earnings every three months. Instead, they would have the option to do so only every six months.