Nasdaq CEO: Support for reforming the corporate reporting cycle

Friedman, Nasdaq chief executive, has advocated the option of providing quarterly or semi-annual reports for public companies as the exchange operator steps up its support for reforms to ease the reporting burden on public companies. The move comes after President Donald Trump on Monday renewed his call to stop publishing quarterly corporate reports, a move that, if approved, would mark a significant shift for corporate America. "Thank you, President Trump, for shedding light on a key challenge facing leaders of public companies: short-termism, and quarterly reports exacerbate that challenge," Friedman said. Mr. Friedman said minimising friction, burdens and costs for public companies could further energise US capital markets and spur economic growth. Nasdaq has also publicly made the case for streamlining reporting requirements, suggesting that companies could choose to report semi-annually rather than quarterly.