The SEC’s May 2026 proposal to make quarterly Form 10-Q filings optional in favor of semiannual Form 10-S reports has drawn overwhelming opposition, including more than 200,000 public comments—most from investors—and a formal recommendation against the change from the agency’s Investor Advisory Committee. While Chair Paul Atkins and the administration continue to advance the deregulatory effort, no final rule has been adopted as of mid-September 2026, with staff still reviewing comments and potential implementation slipping into 2027 or later. Market-implied odds reflect skepticism that the rule will survive intact given the volume of pushback, concerns over reduced transparency for capital allocation, and the practical reality that many issuers would likely continue quarterly disclosures voluntarily to meet investor and exchange expectations. Key near-term catalysts include the timing of any adopting release and possible legal or congressional challenges.