US investment regulators can now keep more company secrets hidden from the public

The US Securities and Exchange Commission has given its investment division director new power to approve or deny requests to keep company information secret. This means fewer of the details companies file about their investments will become public.

For decades, the default was that company filings were public unless a specific exemption applied. This change shifts power to a single director to decide what stays hidden. It means less transparency for investors and the public about how investment companies operate.