The SEC is working on a proposal to allow public companies to release earnings reports twice a year instead of quarterly, per the WSJ.

Chatter about making the 50-plus-year-old quarterly requirement optional has picked up steam in the past year, as companies lament the cost and burden of preparing for quarterly earnings.

The requirement is also thought to be one reason why some companies choose to stay private longer.

Those in favor of change hope that a semiannual requirement will encourage more companies to go public by making it easier to maintain public company status.

SEC Chairman Paul Atkins and President Trump have both voiced support for the idea.

The Journal reports that the SEC has already begun discussions with exchanges about potential next steps, though any change is still a long way away.

If the SEC releases its proposal — which could come within the next few weeks — it will be subject to a public comment period and then a vote.

There is precedent for this rule, notes the Journal.

Both the European Union and the U. eliminated mandatory quarterly reporting roughly a decade ago in favor of semiannual disclosures, though many companies in both markets still report quarterly by choice

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