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Title 15 — Commerce and TradeRelease 119-73

§80a–44 Disclosure of information filed with Commission; copies

Title 15 › Chapter CHAPTER 2D— - INVESTMENT COMPANIES AND ADVISERS › Subchapter SUBCHAPTER I— - INVESTMENT COMPANIES › § 80a–44

Last updated Apr 6, 2026|Official source

Summary

Information in registration statements, applications, reports, or other documents filed with the Commission must be made public. The Commission can make rules or issue orders to keep parts private when making them public is not needed or would hurt the public interest or investor protection. Except as provided in section 78x(c) of this title, Commission members, officers, and employees may not use nonpublic information from those filings for personal gain or share it with anyone except U.S. or State officials who need it for official work. Copies of information the Commission makes public must be given to anyone for a reasonable charge and under reasonable limits the Commission sets.

Full Legal Text

Title 15, §80a–44

Commerce and Trade — Source: USLM XML via OLRC

(a)The information contained in any registration statement, application, report, or other document filed with the Commission pursuant to any provision of this subchapter or of any rule or regulation thereunder (as distinguished from any information or document transmitted to the Commission) shall be made available to the public, unless and except insofar as the Commission, by rules and regulations upon its own motion, or by order upon application, finds that public disclosure is neither necessary nor appropriate in the public interest or for the protection of investors. Except as provided in section 78x(c) of this title, it shall be unlawful for any member, officer, or employee of the Commission to use for personal benefit, or to disclose to any person other than an official or employee of the United States or of a State, for official use, or for any such official or employee to use for personal benefit, any information contained in any document so filed or transmitted, if such information is not available to the public.
(b)Photostatic or other copies of information contained in documents filed with the Commission under this subchapter and made available to the public shall be furnished any person at such reasonable charge and under such reasonable limitations as the Commission shall prescribe.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1990—Subsec. (a). Pub. L. 101–550 substituted “Except as provided in section 78x(c) of this title, it shall be unlawful” for “It shall be unlawful”.

Executive Documents

Transfer of Functions

For

Transfer of Functions

of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.

Reference

Citations & Metadata

Citation

15 U.S.C. § 80a–44

Title 15 — Commerce and Trade

Last Updated

Apr 6, 2026

Release point: 119-73