On May 5, 2026, the Securities and Exchange Commission proposed amendments that would permit registrants to file semiannual reports on new Form 10-S, rather than quarterly reports on Form 10-Q, to satisfy their interim reporting obligations. The SEC also proposed to modify Regulation S-X to facilitate such semiannual reporting and simplify rules regarding the age of financial statements. The comment period is open for 60 days.
The SEC believes that offering registrants the opportunity to report semiannually, rather than quarterly, may reduce the regulatory burden of being a reporting company, thereby encouraging more companies to become, and remain, public. The SEC believes that the proposed rule might allow registrants to dedicate cost savings to business growth and take a longer-term view of their financial and operational success.
