We are a bit torn here. On one hand, focusing less on 3 month periods is probably a good thing but on the other hand, investors will go six months before getting an update on operations, which is pretty long and has the potential to actually increase volatility at companies. It probably benefits smaller companies most, which is a good thing as they can focus more on the business vs quarterly reporting periods and lead to some cost savings. It might also make the prospect of going public a bit more attractive as there would bea bit less burden for smaller companies. In reality, most companies will likely continue on with quarterly reporting regardless, with a minority opting out and those companies will ikely be rewarded with somewhat better valuations, as investors can be more confient in the companies results/trends. So we don't think much will change overall.
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