Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor
The U.S. Capitol Building in Washington D.C.

Regulation and Compliance > Legislation

House Panel Passes E-Delivery Bill

By Melanie Waddell

X
Your article was successfully shared with the contacts you provided.

The long-awaited bipartisan legislation requiring the Securities and Exchange Commission to write a rule allowing financial firms to deliver their documents in digital format passed the House Financial Services Committee on Wednesday.

The bill, the Improving Disclosure for Investors Act, H.R. 1807, was introduced by Reps. Bill Huizenga, R-Mich., and Jake Auchincloss, D-Mass.

The Investment Company Institute applauded the bill’s passage.

The bill “would modernize our capital markets by directing the SEC to permit financial firms to deliver regulatory documents to investors through electronic means,” Eric Pan, president and CEO of ICI, said Thursday in a statement. “Recognizing this widespread preference would make it easier for investors to find the information most relevant to them.”

E-delivery, Pan continued, “will make our disclosure framework more effective and improve the retail investment experience for millions of Americans. We thank the committee members for their support of this bill and look forward to seeing the legislation progress through the House of Representatives.”

Fidelity Investments added in its own statement that the bill “would enable customers to receive critical investment documents in a more secure, accessible, engaging and less wasteful manner, while preserving choice and the option to receive paper for those who prefer it.”

Fidelity said it looks forward to seeing the bill “continue to advance in Congress and become law.”

Melanie Waddell

@Think_MelanieW

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.