- SEC proposes Regulation E-Delivery to allow electronic delivery as the default for financial disclosures.
- Paper delivery remains available on request, covering prospectuses, shareholder reports, proxy statements, and Form CRS.
- The transition process includes two paper notices for current recipients and a 60-day public comment period.
On July 16, 2026, the U.S. Securities and Exchange Commission (SEC) proposed a new rule, Regulation E-Delivery, to expand the electronic delivery of required financial information.
Notably, the proposal aims to make disclosures more accessible and useful for investors while retaining the option for paper delivery on request.
Expanded Electronic Delivery Framework
According to the SEC press release, Regulation E-Delivery would allow issuers, broker-dealers, investment advisers, and other market intermediaries to deliver required information electronically without first obtaining affirmative consent. Notably, this approach is intended to replace the Commission’s decades-old guidance-based e-delivery system.
The range of information eligible for electronic delivery under the proposed rule includes prospectuses for funds and other issuers, annual and semiannual shareholder reports, proxy statements, trade confirmations, disclosures pursuant to Form CRS, and Form ADV Part 2 Brochures. These measures aim to enhance accessibility, retention, and efficiency while reducing paper, printing, and postage costs.
SEC Chairman Paul S. Atkins highlighted that the proposal seeks to align regulatory frameworks with modern technology. In a recent X post, Atkins said, “In an age of artificial intelligence and blockchain technology, a default to paper delivery should be a relic, not a standard.”
Transition and Opt-Out Process
The SEC notes that investors currently receiving paper disclosures would be provided with a transition process. Recipients would receive two paper notices informing them about the move to e-delivery and offering the ability to opt out. This ensures continuity for users preferring traditional delivery formats.
The proposed e-delivery framework is designed to provide potentially more personalized and interactive experiences compared to paper disclosures.
Additionally, the press release also notes that electronic delivery allows investors to access information in a timely, structured, and efficient manner while preserving the option to request paper copies at any time.
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Public Comment Period and Implementation
Meanwhile, the SEC will keep the public comment period open for 60 days following the release in the Federal Register. The proposal emphasizes that e-delivery could provide long-term savings for issuers, market intermediaries, and investors by reducing reliance on paper-based communications.
As per the SEC, Regulation E-Delivery reflects how today’s financial market participants use electronic media to provide and access information. The Commission cited benefits such as improved accessibility, enhanced retention, and the potential for interactive investor experiences, aligning disclosure practices with current technological capabilities.
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