WASHINGTON (Reuters) -A divided U.S. Securities and Exchange Commission on Wednesday voted 3-1 to extend for a second time the deadline for private investment funds to comply with Biden-era regulations requiring enhanced disclosures.

Along with the Commodity Futures Trading Commission, the SEC last year approved rules requiring private funds and investment advisers to tell regulators confidentially about their exposures to investments, counterparties, currencies, countries and specific industries to help regulators spot the build up of risk in the $24 trillion private investment sector.

Private funds and advisers will now have until Oct 1, 2026 to comply with the rule, giving the SEC time to develop possible changes to make the regulatiosn less burdensome, officials said at a public meeting.