SEC Approves Paperless Notifications For Financial Industry

Washington D.C., June 5, 2018 — The Securities & Exchange Commission voted 4-1 to approve a new rule 30e-3 that creates an optional “notice and access” method for delivering shareholder reports.

Under the rule, a fund may deliver its shareholder reports by making them publicly accessible on a website, free of charge, and sending investors a paper notice of each report’s availability by mail. Investors who prefer to receive the full reports in paper may—at any time—choose that option free of charge. Funds may rely on the new rule beginning no earlier than January 1, 2021.

Currently Mutual Funds are required to print and mail such notifications. The rule change does not entirely kill the mail requirement, a goal of the financial industry for the last ten years … (click to read more)

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