SEC Shareholder Reports
The U.S. Securities and Exchange Commission (SEC) has proposed new regulation (Rule 30e-3), which would eliminate the current default requirement for mutual funds to transmit shareholder reports and other important information to investors in paper form. Implementing this change will potentially harm millions of investors - the majority of whom have already expressed a preference for paper-based investment materials.
Without swift action from Congress, this SEC action will:
- Require definitive action by investors forcing them to “opt-in” to continue to receive paper delivery of important fund information rather than the current option to choose electronic delivery if that is a preference. As a result, investors who do not reply to a one-time notice about the delivery change will automatically be switched to receiving financial information in digital-only format.
- Confuse potentially millions of investors who suddenly stop seeing important printed fund performance material from investment firms.
- Expose millions of unsuspecting investors to email scams by subjecting them to dangerous "phishing" attacks from fraudulent investment company emails.
Ask Congress to stop the SEC from Impeding Access to Paper-Based Investment Materials
Visit the Take Action page to write your senator and representative and ask them to make sure the SEC rescinds this dangerous rule.