Wall Street regulators propose new e-delivery for investor disclosures

The U.S. Securities and Exchange Commission on Thursday proposed a new rule that would allow electronic delivery ‌of disclosures ⁠that ⁠it said was an effort to make information more accessible for investors, brokerages and investment fund advisers and others.

The agency said the change reflected the current state of technology used on Wall ⁠Street, part ‌of a pro-innovation agenda. "In an age of artificial intelligence ⁠and blockchain technology, a default to paper delivery should be a relic, not a standard," SEC Chairman Paul Atkins said in a statement. Currently companies provide investor disclosures in paper format unless recipients ask for electronic ‌delivery.

Under the proposal, companies would instead have the ability to ​offer e-delivery ​without first ⁠getting consent for this, according to the announcement, potentially saving costs as well. The proposal ​is now subject to a two-month notice-and-comment period before any decision on finalizing the rule.