A CFA Institute survey finds that 62% of financial analysts and portfolio managers oppose replacing quarterly reporting with semiannual financial reports, even as 63% say the benefits of 10-Qs exceed their costs. About 70% of the 2,500 respondents oppose giving companies the option to decide their reporting cadence, a flexibility the SEC formally proposed last month. The institute warns that removing quarterly reporting could damage U.S. capital markets, likening it to removing a load-bearing wall. While 82% would support voluntary quarterly reporting if semiannual mandates were adopted, only 32% expect companies to continue filing quarterly reports if it becomes optional.