Atkins announces Reg E-Delivery proposal making electronic delivery the default for securities disclosures without requiring affirmative consent.
“the Commission takes a further step in recognizing these developments by proposing Regulation E-Delivery (“Reg E-Delivery”).”
Atkins proposes Reg E-Delivery to make electronic delivery the default for securities disclosure requirements.
“Reg E-Delivery would allow issuers, broker-dealers, investment advisers, and other market intermediaries to use electronic delivery as the default delivery method to satisfy information delivery requirements under the federal securities laws, provided that these entities have met the conditions of Reg E-Delivery.”
Atkins cites SEC data showing 80% of U.S. investors prefer e-delivery for non-personal documents, 63% even for personal information.
“The Office of Investor Research within the Commission’s Office of the Investor Advocate found that nearly 80% of U.S investors prefer some form of e-delivery for financial disclosure documents that do not include personal information, and also that a majority (approximately 63%) prefers some form of e-delivery even for documents that do include personal information.”