The SEC's investment management division may just be months away from issuing new rules for how often fund firms disclose their holdings. The division's plans were reported this morning by the Wall Street Journal.

The report stated that the division "hopes to" finalize a rule on the matter this fall and cited Paul Roye, director of the investment management division as its source. The rule would require that disclosure be made quarterly rather than semi-annually as today. Under the new rule, funds would only have to disclose holdings that make up more than 1 percent of the fund's assets. Funds would also have to report fees as a dollar figure per $10,000 of assets invested.

"The shareholder report reform, fee disclosure and holdings disclosures are still priorities and we hope to make final recommendation to the Commission in the fall," Roye wrote Friday in an email to the paper.

A potential date for its release could be October 1. That is the date by which the SEC must report its progress to a House Financial Services subcommittee headed by Reps. Michael G. Oxley (R., Ohio) and Richard H. Baker (R., La.).  

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