SEC Releases Proposal to Allow Companies to Report Earnings Semiannually

SEC Unveils Plan to Let Companies Move to Semiannual Reports

US companies could choose to report earnings semiannually instead of quarterly under a proposal released by the Securities and Exchange Commission, potentially reducing how much information publicly traded firms must share with investors.

The SEC has mandated quarterly reports, known as 10-Qs, for more than half a century in a bid to provide more transparency. While this proposal would drop that requirement for publicly traded companies, firms might choose to continue issuing earnings releases and performance outlooks every three months.

“Today’s proposed amendments, if ultimately adopted, would provide companies with increased regulatory flexibility,” said SEC Chairman Paul Atkins in a statement.

SEC Sends Proposal to End Biden-Era Climate Disclosure Rules to White House

The White House is reviewing a proposal from the Securities and Exchange Commission to formally end Biden-era climate disclosure rules for publicly-traded companies.

The regulator sent the measure to the White House’s Office of Management and Budget for review on May 4, according to a post on a government website.

The old corporate disclosure regulations, issued under former SEC Chair Gary Gensler, had never been implemented amid a spate of legal challenges. The Trump administration had effectively set the rules aside a year ago when the regulator told a judge that it would no longer to defend the policy in court.

Elon Musk is above the law

We’ve talked about this case a bunch of times before. Basically Musk bought 5% of Twitter’s stock, which triggered a requirement that he disclose his stake within 10 days. But he didn’t, and kept buying more stock secretly. When he ultimately did disclose his stake, the stock predictably shot up; by delaying his disclosure, he saved himself about $150 million at the expense of Twitter shareholders. The SEC, back when it didn’t like Musk, sued him for the $150 million. The new SEC changed its mind and settled for $1.5 million. […]

But if the rules aren’t binding, well. Musk paid effectively a 1% tax on his savings. “If you’re economic activist investors with political connections,” a reader emailed me, “why would you ever file a 13D on time again? Just run the same playbook and you’re fine.”

Ken Griffin Says New York ‘Doesn’t Welcome Success’ Under Mamdani

Billionaire Ken Griffin on Tuesday amplified his criticism of New York City Mayor Zohran Mamdani and suggested his investing firm Citadel would “double down” on Miami’s being the place for growth instead of Manhattan.

“Mamdani is making it really clear: New York doesn’t welcome success,” Griffin, the founder and chief executive officer of Citadel, said at the Milken Institute Global Conference in Beverly Hills, Calif.

The mayor recently appeared in a video in front of a property Griffin purchased at 220 Central Park South in 2019 for roughly $238 million, a deal that set a record for the highest-priced home ever sold in the U.S.

“We’ve secured a pied-à-terre tax,” Mamdani said in the video, posted April 15. “This is an annual fee on luxury properties worth more than $5 million, whose owners don’t live full time in the city. Like for this penthouse, which hedge fund CEO Ken Griffin bought for $238 million.”

Griffin called the video “creepy and weird.” He alluded to alleged security risks, saying the video was “frightening,” and he mentioned that the CEO of UnitedHealthcare was fatally shot not far away.

Crypto’s value is from being outside regulatory apparatus, says Arthur Hayes

Crypto doesn’t need regulation – something that charting the price of bitcoin over successive U.S. governments clearly shows, according to the provocative co-founder of BitMEX and CIO of Maelstrom, Arthur Hayes.

Hayes’ thesis is simple: fiat liquidity – precisely, the printing of more units of fiat money – is the only thing that affects bitcoin’s value proposition.

“If you want to talk about the price of Bitcoin and what’s the fair value, or what’s the future price, all that matters is how many units of fiat are there today,” Hayes told the audience at Consensus Miami 2026. “How many units of fiat will there be in the future, and what’s the pace of this fiat creation?” […]

”The more money that is printed in the U.S. and around the world, the more value that bitcoin will have in fiat currencies,” said Hayes. “And it’s this liquidity part of the equation that really drives the price of bitcoin, and not anything to do with politics.”