SEC Comment Period Closed on Electronic Disclosure Rule

The proposed rule would switch account document delivery to digital by default, potentially impacting how you receive financial updates.

Updated on Sept. 21, 2026 in Investing

Isometric editorial illustration featuring geometric stacks of matte rectangles and a single translucent cube, representing a transition from physical to digital information. — The Securities and Exchange Commission has concluded its comment period on a proposed rule that would make electronic disclosure the default for financial account documents. AI Illustration. Upload story photo >

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Do you support financial firms switching to electronic delivery as the default for your account statements?

The Securities and Exchange Commission has concluded its 60-day public comment period on a proposed regulation that would transition investors to electronic delivery for financial disclosures. The proposal, which garnered over 80,000 comments, would rescind existing rules to make digital communication the default standard for account holders.

Why it matters

The shift aims to modernize communication and reduce overhead costs for firms, which are largely driven by postal delivery expenses. Industry estimates suggest a move to default electronic disclosure could generate $800 million in annual industry-wide savings.

Industry data shows 80% of U.S. investors prefer electronic delivery for non-personal disclosures, and firms like those in SIFMA report 95% of delivery costs stem from physical mail. This shift could reduce annual industry spending, which averages $62 million per firm.

The players

Securities and Exchange Commission

The federal agency that enforces market regulations and establishes disclosure standards for individual investors.

SIFMA

An industry trade group representing financial firms that manage investment accounts and distribute investor disclosures.

ASA

An industry organization that advocates for investment firms and professional financial services providers.

Investment Company Institute

A national trade association representing investment funds and reporting on industry-wide operational costs.

The details

Regulation E-Delivery would replace the current paper-based system by requiring firms to send two initial paper notices before transitioning accounts to electronic default. Investors retain the right to opt out of this digital switch to continue receiving paper documents. The rule is intended to replace Rule 30e-3 under the Investment Company Act of 1940.

June 21, 2026: SEC submitted the rule for regulatory review.
July 21, 2026: The rule was published in the Federal Register.
September 21, 2026: The 60-day public comment period ended.

Money Landscape

The proposed rule reflects a broad transition from paper-based legacy systems toward digital-first financial communication. It signals a move to modernize regulatory compliance relative to the requirements established by the Investment Company Act of 1940.

If finalized, this rule would change your default document delivery preference, requiring you to opt back into paper if you prefer physical mail. Households should review their brokerage account settings to ensure they are receiving updates in their preferred format.

The takeaway

The SEC is currently weighing public feedback on a proposal to make electronic disclosure the default for investment accounts. Monitor your brokerage correspondence for future opt-out instructions if you prefer receiving paper statements.