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Recent Editions
Risk Channel
North America
The SEC received more than 200,000 comments on its proposal to let public companies report financial results twice yearly instead of quarterly, the highest response recorded for an SEC proposal. Most submissions opposed the change, arguing it would reduce transparency, limit investor access to timely information and increase opportunities for fraud. Public-school teacher Lori Amann compared quarterly company reporting with regular student grades, while the Little Warrior Foundation said quarterly disclosures helped it avoid relying on a supplier facing financial difficulties. Exxon Mobil supported semiannual reporting, arguing that companies would still disclose material developments promptly, while Gallagher suggested reporting three times annually. Despite widespread criticism, the SEC is expected to advance some version of the proposal after reviewing the comments and potentially revising its language.
Full Issue
Risk Channel
UK/Europe
The IMF has urged Andy Burnham’s incoming government to preserve its predecessors’ deficit-reduction strategy, warning that elevated debt and gilt market pressures leave little room for additional borrowing or spending. It advised the new prime minister and chancellor to be “very selective” about fresh commitments and to rebuild fiscal buffers against future shocks. The IMF supported reforms to council tax, capital gains tax and VAT exemptions, but said future spending reviews should reallocate existing resources rather than expand overall budgets. Burnham has pledged to retain the fiscal rule requiring tax revenues to cover current spending while ruling out new wealth taxes and increases to income tax, VAT or national insurance. The fund warned that ambitious efficiency savings, uncertain tax receipts and shrinking headroom could make the consolidation plan difficult to deliver as the next election approaches in 2029.
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