When the Securities and Exchange Commission (SEC) in May issued a proposal that would give public companies the option to provide semiannual reports instead of quarterly reports, some experts predicted that the commission would finalize the rule by the end of the year as it is a priority project for Chairman Paul Atkins, whose goal has been to “Make IPOs Great Again.” Moreover, this has been something that President Trump has asked the SEC to do as he believes semiannual preparation will lower costs for companies.

However, the agency will likely not be able to push through the rule by the end of the year, given the record number of comment letters submitted in response.

“Wow, that would be aggressive. We have 280,000 comments; we’ve got to make sure that we address them all, right?” SEC Chief Accountant Kurt Hohl told Thomson Reuters in response to a question about whether the agency will be able to finalize the proposal this year.

To dig deeper, visit the original article on the Thomson Reuters blog.