Re: The SEC wants to bury your disclosures in an inbox (fwd)

[robert <http://dummy.us.eu.org/robert>]

This would be a shame.

 > From: Noelle <noelle>
 > Date: Thu, 17 Sep 2026 07:59:03 -0700 (PDT)
 >
 >  > Date: Wed, 16 Sep 2026 22:09:18 +0000 (UTC)
 >  > From: Oscar Vald�http://www.ourfinancialsecurity.org/~info>
 >  > 
 >  > https://larencore.blogspot.com/2026/09/us-americans-for-financial-reform-sec.html
 >  > The SEC and Labor Department want electronic delivery as the default for 
 >  > your investment statements. Comments are due September 21.
 >  > Americans for Financial Reform
 >  > 
 >  > Noelle,
 >  > 
 >  > Wall Street wants to stop putting your statements in the mail. The 
 >  > Securities and Exchange Commission has proposed Regulation E-Delivery, a 
 >  > rule that would let brokerage firms, mutual fund companies, banks, and 
 >  > retirement plan administrators send required investment disclosures 
 >  > electronically by default, without your permission. The Department of Labor 
 >  > is proposing the same kind of default for critical group health plan 
 >  > documents.
 >  > 
 >  > Paper is the default today. Digital delivery is already available to anyone 
 >  > who wants it. These rules flip that. The industry would no longer need your 
 >  > consent to switch you off paper. It would become your job to opt back in.
 >  > 
 >  > Millions of people rely on paper because they do not have reliable internet 
 >  > or a computer, or they have difficulty managing high-stakes documents on a 
 >  > screen. That includes seniors, rural residents, low-income families, and 
 >  > people with disabilities. Nearly 28 percent of people in rural areas and 
 >  > more than 23 percent of people on Tribal lands still lack fixed broadband. 
 >  > A default built for a perfect inbox leaves those households behind.
 >  > 
 >  > Electronic delivery creates additional risks even for people with reliable 
 >  > internet. Important notices can disappear into spam folders , while emails 
 >  > directing investors to click a link and log in may be indistinguishable 
 >  > from phishing scams they have been warned to avoid. And when an investor 
 >  > dies or becomes incapacitated, loved ones may be locked out of the person’
 >  > s email account and left without the paper statements that could help them 
 >  > identify accounts, locate assets, and settle their affairs.
 >  > 
 >  > These documents tell you what your 401(k), IRA, pension, or mutual fund 
 >  > costs and whether fees are too expensive. If the paper never arrives, the 
 >  > fee hike and the missed deadline are how people lose money.
 >  > 
 >  > Tell the SEC and the Department of Labor to keep paper as the default and 
 >  > require affirmative consent for electronic delivery before the September 21 
 >  > comment deadline. 
 >  > 
 >  > This is a cost-cutting exercise for Wall Street and plan administrators, 
 >  > not a service upgrade for working people. Printing a statement puts the fee,
 >  >  the loss, and the coverage change in your hand. An email is cheaper for 
 >  > them and easier to ignore or to phish. Twenty-two percent of adults in the 
 >  > U.S. have already been victims of identity theft, most often financial.
 >  > 
 >  > For many seniors, people with disabilities, and lower-income households, 
 >  > paper is the trusted copy they can keep and take to a family member or 
 >  > counselor. They should not have to file a request to keep the one format 
 >  > that actually reaches them.
 >  > 
 >  > If these rules go final, the people who miss a fee change will be told it 
 >  > was their fault for not opting out in time. That is the point of flipping 
 >  > the default option. The industry gets the savings. Families suffer the 
 >  > consequences.
 >  > 
 >  > The comment window closes September 21. The industry will file comments in 
 >  > support. The agencies need to hear from the people who still depend on the 
 >  > mail.
 >  > 
 >  > Tell the SEC and the Department of Labor: Do not let Wall Street limit 
 >  > access to investment and health plan disclosures. 
 >  > 
 >  > Let's keep these documents in people's hands.
 >  > 
 >  > -Oscar
 >  > 
 >  > Oscar Valdés Viera (he/him)
 >  > Senior Policy Analyst, Private Equity & Capital Markets
 >  > Americans for Financial Reform