This fall, RIAs will have to start providing far more information on the Form ADV they submit to the SEC, including additional client data and information on their social media activity, InvestmentNews writes. Many of them may not be prepared, industry experts tell the publication.

Starting October 1, advice practices will have to include a list of their 25 biggest branch offices, instead of the previous five, addresses for all of their social media accounts, instead of just their websites, and information on assets under management broken down by client types, according to the publication.

Advice firms will also have to disclose whether their compliance officers get compensated by an outside party and give more details about separately managed accounts, InvestmentNews reports.

The changes, approved last year, are the biggest overhaul to the registration form since 2010, when the SEC began requiring advisors to provide a more detailed overview instead of selecting options from a list, G.J. King, president of consulting firm RIA in a Box, tells the publication.

The changes are aimed in part at helping the SEC better target RIAs for examinations, InvestmentNews writes. And many firms may not have all the necessary additional information at the ready, King tells the publication.

The new form will require a lot of preparation of systems that would gather the information in the way the SEC wants it, Karen Barr, president and chief executive of the Investment Adviser Association, tells InvestmentNews. As for the registration itself, what was once a 10-minute process will become a two-hour ordeal, Steven Thomas, chief operating officer at Wealth Financial Advisory Services, tells the publication.

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Broker-dealers, meanwhile, are getting a tiny breather when it comes to paperwork. The Securities Investor Protection Corporation and Finra have announced that firms will be able to submit just one annual report through Finra’s portal instead of filing them separately to the two regulators, Finra says in a press release. The changes go into effect September 1, according to Finra.