Electronic Delivery Bill

July 10, 2023

On April 26, 2023, the House of Representatives – Financial Services Committee introduced a bill regarding the electronic delivery of certain disclosures. Following the enactment of the bill, the SEC must propose no later than 180 days; rules, regulations, amendments, or interpretations, to allow covered entities to deliver regulatory documents required under the securities laws electronically. 

For investors that are not currently receiving the documents electronically, the bill would require: 

• Delivery of an initial communication in paper form regarding electronic delivery. 
• A transition period not to exceed 180 days until such regulatory documents are delivered to such investors by electronic delivery. 
• During a period not to exceed 2 years following the transition period, delivery of an annual notice in paper form to serve as a reminder of the ability to opt out. 

Covered Entities Include A[n] 

• Investment company  
• Business development company  
• Registered
  • broker or dealer  
  • municipal securities dealer  
  • government securities broker or government securities dealer  
  • investment adviser  
  • transfer agent
  • funding portal

Regulatory Documents Include A[n] 

• Prospectus  
• Summary Prospectus  
• Statement of Additional Information  
• Annual Report  
• Semi-Annual Report  

• Certain notices  
• Confirmations and account statements  
• Proxy statements  
• Privacy notices  
• Affiliate marketing notices 

Proposed Bill 

https://www.congress.gov/bill/118th-congress/house-bill/1807/text?s=1&r=2 

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