The Securities and Exchange Commission voted Thursday to expand the information registered investment advisors must provide to the agency.

Starting October 1, 2017, advisors wil be required to provide additional information on use of social media, branch offices and their separately managed account business, including aggregate data related to the use of borrowings and derivatives.

Seeking to reduce misleading advertising and fraudulent advertising by advisors, the agency is mandating RIAs to keep more records related to the calculation and distribution of performance information.

In a move to reduce compliance costs, the SEC approved streamlining registration and reporting for groups of private fund adviser entities operating a single advisory business.

“Requiring investment advisors to report this additional information will provide investors and the Commission with a better understanding of the risk profile of each adviser and the industry as a whole,” SEC Chair Mary Jo White said in explaining the rationale for the new regulations.

Committee for the Fiduciary Standard Chair Kate McBride said the added disclosures appears to increase the transparency of advisers for investors.

The Financial Services Institute used the new rulemaking as an opportunity to make a shout-out to advisors to join.

With new rules and more exams coming, advisers need to spend more money on advocacy in Washington to make sure the moves won’t be as burdensome as they potentially could be was the gist of a reaction to Thursday’s action by FSI Membership & Marketing Vice President Chris Paulitz.