Securities and Exchange Commission chair Paul Atkins defended a proposal to allow companies to disclose their financial results twice a year, rather than quarterly, in the face of thousands of negative comments urging the agency not to reduce reporting requirements. "When people say, oh, this could be less transparent or whatnot, we have a one-size-fits-all rule right now," Atkins said. The SEC received 200,000 comments, mostly in opposition, particularly from asset managers and retail investor advocacy groups. A tracker created by an accounting professor at Ohio State University showed 99.5% of the letters opposed the proposal. The agency is down two commissioners, and the remaining three are all Republicans, making it likely the proposal will pass.