White Papers

E-Delivery

Summary

E-Delivery: Modernizing the Regulatory Communications Framework to Meet Investor Needs for the 21st Century

SIFMA, SIFMA AMG, The Financial Services Institute (FSI) and The Investment Adviser Association (IAA) published a discussion paper urging the Securities and Exchange Commission (SEC) to update its rules and related guidance to allow the implementation of a digital approach establishing electronic delivery as the primary means for delivering investor communications.

SIFMA and SIFMA AMG along with several other financial services trades outline how and why the SEC should amend relevant investor communications rules to permit firms to shift the default delivery method from postal delivery to e-delivery.

E-delivery with notifications via email, website, mobile app, or text messaging is faster, safer and more timely than physical, hard-copy delivery. As the SEC has acknowledged, e-delivery allows investors to review documents in more user-friendly formats, when and where they choose, leveraging modern communications technology to create deeper and more productive investor engagement.

The COVID-19 pandemic has demonstrated the effectiveness of new communications technology for uses ranging from routine personal tasks to functions vital to our economy and our financial markets – from virtual annual shareholder meetings and investor conferences to initial public offering roadshows and meetings between clients and financial professionals. These developments highlight the need for major changes to our existing delivery framework for investor communications.

Related:

PDF

Date

22

September

2020