View or download a PDF of the letter here.
AFREF led a group of 24 investors, labor unions, and public interest organizations in urging the Securities and Exchange Commission (SEC) to refrain from allowing companies to opt into filing semiannual reports in lieu of mandatory quarterly reports. Contrary to the SEC’s contentions, finalizing this proposed rule would not result in more companies going public or encourage more focus on long-term strategy. Instead, the proposed reforms would impose unwarranted significant new costs on investors and make markets less transparent and less efficient, thereby undermining capital formation.