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Lawyers, Auditors Defend Quarterly Reports Trump Questions

March 25, 2019, 9:30 AM

Sullivan & Cromwell LLP and two major accounting firms are urging the SEC not to make companies’ quarterly reports semi-annual, a move that President Donald Trump has said the agency should consider.

The law firm, along with accounting firms Deloitte LLP and Grant Thornton LLP, are among those advising the Securities and Exchange Commission not to let companies disclose their financial results less often. Trump urged the agency to study the matter in a tweet last year after hearing such a move would save companies money and give them more flexibility.

“We are very skeptical that an economic case could ...