# 2025-15182: SEC Renews Rule Protecting Investors from Fund Hype Confusion

2025-15182, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 139b, is a Federal Register notice from Securities and Exchange Commission published 2025-08-11, effective Public comment invited within 30 days of publication; comments due by September 11, 2025. (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-15182
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-15182
- Title: Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 139b
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 38686
- Published: 2025-08-11
- Effective: Public comment invited within 30 days of publication; comments due by September 11, 2025.
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

SEC Renews Rule Protecting Investors from Fund Hype Confusion

## Summary

The Securities and Exchange Commission is extending the paperwork rules for Rule 139b, which helps protect brokers when sharing research about investment funds. This rule makes sure fund performance info is shown clearly and fairly, so investors aren’t confused. The extension means no new costs or changes, just more time to keep things running smoothly.

## Effects PRIA read

- Broker-Dealers Face Ongoing Paperwork Burden: cost, medium. If you are a broker-dealer, Rule 139b imposes ongoing internal work to include standardized fund performance in covered investment fund research reports. The SEC estimates 5,091 such reports annually, about 1,030 broker-dealers responding at 4.9 reports each, with 3 hours of internal work per repor…
- Clearer Fund Performance for Investors: benefit, low. If you invest in funds, Rule 139b requires research reports that include performance information to present it using the standardized format in rule 482 (for open-end funds) or Form N-2 instructions (for closed-end funds). The rule is intended to reduce investor confusion by making fund performance…
- Performance Data Not Confidential; No Retention Rule: mixed, low. Rule 139b says performance measures calculated by broker-dealers do not have to be kept confidential and there is no mandatory records-retention period, and responses to the collection will not be kept confidential. That affects broker-dealers' choices about keeping and disclosing performance calcu…

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## Sources
- [2025-15182 on federalregister.gov](https://www.federalregister.gov/documents/2025/08/11/2025-15182/agency-information-collection-activities-submission-for-omb-review-comment-request-extension-rule)
- [2025-15182 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-08-11/pdf/2025-15182.pdf)

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Source: PRIA, https://policyrisk.com/federal-register/2025-15182 (as of 2026-06-08).