Don­ald Trump has called for Amer­ican com­pan­ies to stop report­ing quarterly res­ults, as his Wall Street watch­dog moved to scrap its aggress­ive enforce­ment agenda in a sign of a more busi­ness-friendly stance.

The US pres­id­ent said on his Truth Social net­work that com­pan­ies should shift to pub­lish­ing fig­ures twice a year, con­trast­ing stand­ard prac­tice in the US with what he depic­ted as China’s more long-term approach.

Most pub­licly lis­ted US com­pan­ies are required to file quarterly and annual fin­an­cial fil­ings with the Secur­it­ies and Exchange Com­mis­sion.

“Sub­ject to SEC Approval, Com­pan­ies and Cor­por­a­tions should no longer be forced to ‘Report’ on a quarterly basis,” Trump said. “This will save money, and allow man­agers to focus on prop­erly run­ning their com­pan­ies.”

He added: “Did you ever hear the state­ment that, ‘China has a 50 to 100 year view on man­age­ment of a com­pany, whereas we run our com­pan­ies on a quarterly basis???’ Not good!!!”

Trump’s remarks came soon after Paul Atkins, his appointee as SEC chair, told the Fin­an­cial Times in an inter­view that he would give busi­nesses notice of any tech­nical viol­a­tions before reg­u­lat­ors “bash down their door”.