The public comment period on the SEC’s Proposed Rule on Semiannual Reporting, File No. Proponents of semiannual reporting center their arguments on operational efficiency and strategic focus. A CFA Institute survey of over 2,500 investment analysts and portfolio managers revealed strong support for maintaining quarterly reporting. Keeping in mind, the Proposed Rule is stating semiannual reporting only as an option. Electing semiannual SEC reporting could force companies to jump through additional hoops to renegotiate these covenants.”