FCA puts end to quarterly reporting

UK-listed companies will no longer have to release interim management statements after the Financial Conduct Authority changed its rules to ease the reporting demands placed on firms.The move came after the 2012 report by Professor John Kay called for regulations to encourage more long-term investment in the stock market.Interim statements usually cover a three-month trading period and because of this, have faced criticism for providing only a snapshot of a company's performance and therefore encouraging short-term investment."We hugely welcome removing mandatory reporting," chief executive of the Quoted Companies Alliance, Tim Ward, was quoted as saying by the Telegraph."That's not to say certain companies shouldn't do it regularly, but they should have a choice about how they do it."