SEC Extends Sales Fee Change Notice Rules for Funds
Published Date: 4/13/2026
Notice
Summary
The SEC is asking to extend the paperwork rules for funds that change or remove sales fees for certain investors. This affects investment companies and their shareholders, who must get clear, timely info about any fee changes. No new costs or deadlines are added, but the extension keeps these important notice rules in place.
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Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Continued Notices for Fund Fee Changes
If you own or might buy shares of a mutual fund, the SEC is keeping in place Rule 22d-1 so existing and prospective investors must get clear, timely notice when a fund schedules a change or elimination of a front-end sales load. The rule requires the prospectus and statement of additional information to be revised before a new variation is available and that existing shareholders be advised of any new sales load variation within one year.
Paperwork Burden for Funds Continued
The SEC requests extension of the information collection for Rule 22d-1 (OMB Control No. 3235-0310). The agency estimates about 6,740 series currently issue securities with a front-end sales load, up to 50% (about 3,370 series) may use the rule each year, and the estimated reporting burden is 0.25 hours per respondent for a total of about 843 annual burden hours.
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