U.S. Senators Introduce Bill for E-Delivery of Regulatory Documents
"Today's economy runs in the digital age, and we need to catch up... Cutting red tape is as simple as going paperless."
U.S. Senator John Hickenlooper
"Today's economy runs in the digital age, and we need to catch up... Cutting red tape is as simple as going paperless."
U.S. Senator John Hickenlooper
U.S. Senators John Hickenlooper (D-CO) and Thom Tillis (R-NC) introduced a bipartisan bill that would require the SEC to propose rules allowing regulated entities to deliver regulatory documents to investors using electronic delivery.
The "Improving Disclosure for Investors Act of 2024" would, among other things:
- require the SEC to propose and finalize rules, regulations, amendments or interpretations to allow a covered entity to satisfy the obligation of the entity to deliver regulatory documents required under the securities laws to investors using electronic delivery.
In a press release that included endorsements for the bill by SIFMA (see here), and the ICI (see here), Senator Tillis stated that "it is past time that we bring disclosure requirements into the 21st century ... [t]his commonsense legislation will heighten efficiency and cut down on paper while preserving investors’ ability to receive hard copies."