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SEC allows shift from paper fund reports

Joe Mont | June 5, 2018

The Securities and Exchange Commission voted Tuesday on initiatives to improve the experience of those who invest in mutual funds, ETFs and other investment funds. 

In three related actions, the Commission provided a new, optional “notice and access” method for delivering fund shareholder reports that have been historically printed and mailed; invited investors and others to share their views on improving fund disclosure; and sought feedback on the fees that intermediaries charge for delivering fund reports.  

These actions are part of a long-term project, led by the Division of Investment Management “to explore modernization of the design, delivery, and content of fund disclosures.”

In the first of three releases, the Commission adopted new rule 30e-3.  It creates an optional “notice and access” method for delivering shareholder reports. 

Under the rule, a fund may deliver its shareholder reports by making them publicly accessible online, free of...

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