Existing reporting requirements does not ensure markets' integrity and fairness in much of the world, US included.

I think, to some extend, the presumption of truthfulness in financial reporting is even giving edge to bad players, and penalises "boring" businesses that have nothing to show but dividends, and a track record paying them.

It is much easier to "pool the wool" with some fancy paid off analyst reporting for a tech business with dubious repute than say a concrete factory.