President Donald Trump wants to do away with the quarterly earnings report.

In a message on Truth Social, Trump suggested that securities regulators should consider stopping the mandate for companies to release financial reports every three months and instead adopt a semi-annual reporting period. Since 1970, the Securities and Exchange Commission has mandated publicly traded companies to submit reports quarterly.

“This will save money, and allow managers to focus on properly running their companies,” Trump wrote.

Trump asked the SEC to examine the three- versus six-month reporting requirement during his first term. No change was made.

Recently, the Long Term Stock Exchange announced its intention to request the SEC to eliminate the quarterly reporting requirement. This San Francisco-based exchange is designed to list companies that prioritize long-term objectives.

Proponents of this change argue that quarterly reporting is excessively expensive and time-consuming, discouraging companies from going public. They also claim that company executives are overly focused on meeting quarterly performance expectations rather than engaging in long-term strategic planning.

On the other hand, supporters of maintaining quarterly reports argue that these updates provide investors with crucial financial insights and alert them to any emerging risks the company may face.