Professional Investors Pan SEC Reporting Overhaul in Survey (1)

Professional investors are resisting a bid by Wall Street’s top regulator to reduce how frequently US public companies share information with the market, according to an industry survey.

Almost two-thirds of investment analysts and portfolio managers responding to a CFA Institute survey said the US Securities and Exchange Commission should maintain mandatory quarterly financial reporting for public companies instead of switching to twice-yearly reporting.

“Investors globally — not just in the US — continue to view quarterly reporting as an essential feature of transparent, efficient, and trustworthy capital markets,” said Matthew Winters, a CFA Institute senior director, said in a ...