The Securities and Exchange Commission (SEC) published a rule proposal on Investment Company Names, which aims to address investment company names that are likely to mislead investors about an investment company’s investments and risks. The proposed amendments to this rule are designed to increase investor protection by improving and clarifying the requirement for certain funds to adopt a policy to invest at least 80% of their assets in accordance with the investment focus that the fund’s name suggests, updating the rule’s notice requirements, and establishing recordkeeping requirements. The Commission also is proposing enhanced prospectus disclosure requirements for terminology used in fund names, and additional requirements for funds to report information on Form N-PORT regarding compliance with the proposed names-related regulatory requirements. The Commission is proposing that funds tag new information that would be included using a structured data language (specifically Inline eXtensible Business Reporting Language or “Inline XBRL”). The rule is out for a 60-day comment period.