MFA sends letter to SEC on the withdrawal of semiannual reporting framework

MFA submitted a letter to the Securities and Exchange Commission (SEC) in opposition to the SEC's proposed framework, Proposed Amendment, which features optional semiannual reporting.

MFA requests that the Commission consider the following recommendations to implement in the Proposed Amendment:

• A switch to semiannual reporting would harm investors and market integrity by increasing information asymmetries, delaying price discovery, weakening corporate accountability, and impairing the efficient functioning of public markets.
• The Commission's contention that changing to semiannual reporting will redress the decline in public offerings lacks evidentiary support.
• The Commission must finalize its consideration of less harmful alternatives to reduce public company reporting burdens before it can accurately assess the costs and benefits of the Proposed Amendment.