The Securities and Exchange Commission unanimously voted Wednesday to propose increasing and modernizing risk disclosures for investment advisors and mutual funds.

Advisors would also be required to provide information on their social media activities on Form ADV for the first time. Advisors would need to include a list of all social media sites they sponsor, allowing clients, prospective clients and examiners to review them.

If finalized unchanged, the proposed rules would require individual advisors to disclose on Form ADV information on assets (including swaps and exchange-traded funds) and use of borrowings and derivatives in separately managed accounts.

Also, advisors would be mandated to provide additional information about their advisory business, including branch office operations.

Advisors would have to maintain records of the calculation and communication of performance information distributed to any person. Currently, advisors are required to maintain performance information that is distributed to 10 or more individuals.

Investment Adviser Association General Counsel Bob Grohowski praised the SEC commissioners for making the new disclosures the “least burdensome possible” for advisors.