SEC Extends ETF Info-Sharing Rule
Published Date: 9/12/2025
Notice
Summary
The SEC is asking for comments to extend a rule that helps ETFs (exchange-traded funds) operate smoothly without extra approvals. This rule makes ETFs share info on their websites, keep records, and follow clear policies, which costs about 74,580 hours and nearly $2 million yearly. If you’re involved with ETFs, this affects you, and the SEC wants your thoughts before moving forward!
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Annual Compliance Burden and Cost
The SEC estimates that complying with Rule 6c-11 (website disclosures, recordkeeping, and policies/procedures) results in an average aggregate annual burden of 74,580.75 hours and an average aggregate time cost of $1,964,817. These burdens are associated with reviewing and updating website disclosures, recordkeeping, and policies and procedures for ETFs.
ETFs Can Operate Without Exemptive Orders
Rule 6c-11 permits exchange-traded funds (ETFs) that satisfy certain conditions to operate without first obtaining an exemptive order from the Securities and Exchange Commission. The rule was designed to create a consistent, transparent, and efficient framework for ETFs and to facilitate greater competition and innovation among ETFs.
Confidentiality for Examined Information
If information collected under Rule 6c-11 is reviewed by the Commission's examination staff, it will receive the same level of confidentiality as other responses provided in the context of SEC examinations and oversight. The collection of information is mandatory and must display a currently valid OMB Control Number.
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