# SEC Proposes Digital Default for Investor Disclosures > The SEC proposed Regulation E-Delivery, a July 16 rule that would let covered firms use electronic delivery by default while preserving paper on request. - Content type: NewsArticle - Section: News - Published: 2026-07-16T06:30:00.000Z - Publisher: Arkolith Newsroom - Canonical HTML: https://arkolith.com/news/news-sec-edelivery-investor-disclosures - Plain Markdown: https://arkolith.com/news/news-sec-edelivery-investor-disclosures.md - Topics: SEC, Regulation E-Delivery, Investor disclosures, Broker-dealers, Investment advisers ## Article The SEC proposed Regulation E-Delivery on Thursday, a rule that would let issuers, broker-dealers, investment advisers and other covered firms send required investor disclosures electronically without first getting affirmative consent. The shift would turn paper from the default into an opt-out choice for much of the federal securities disclosure system. The unresolved question is practical: whether investors can get faster, cheaper access to documents without losing paper access, security or a clear path to find what they were sent. ## What the SEC proposed The [SEC release](https://www.sec.gov/newsroom/press-releases/2026-67-sec-proposes-new-e-delivery-approach-make-information-more-readily-accessible-useful-investors) says Regulation E-Delivery would expand electronic delivery for required information under the federal securities laws. Today, the agency said, required regulatory information is typically delivered in paper format unless the recipient affirmatively elects otherwise. The rule would not force firms to use digital delivery. The SEC's [fact sheet](https://www.sec.gov/files/33-11430-fact-sheet.pdf) says covered entities could use electronic delivery as the default method only if the covered recipient has provided an electronic address, the firm gives prominent disclosure that information will be sent there, and the recipient has not opted out. Covered entities would include issuers, investment advisers and broker-dealers. Covered recipients would include current or prospective customers, clients, investors, security holders, counterparties and similar recipients. ## Which documents are in scope The proposal is broad. The SEC release lists prospectuses for funds and other issuers, fund annual and semiannual shareholder reports, proxy statements, trade confirmations, Form CRS disclosures and Form ADV Part 2 brochures among the information that could be delivered electronically. The [proposed rule](https://www.sec.gov/files/rules/proposed/2026/33-11430.pdf) would also rescind Investment Company Act Rule 30e-3 and amend rules for proxy and tender-offer materials. It identifies the new Regulation E-Delivery provisions as 17 CFR 303.100 through 303.104. ## The paper safeguard The proposal keeps paper as a right on request rather than a default channel. Current paper recipients would receive two paper notices before a transition to default e-delivery. Those notices would explain the change and the ability to opt out. The fact sheet also draws a line around personal financial information. If covered information includes personal financial information, the firm would need to send a statement of availability, such as an email with a link to the website where the recipient can access the material, rather than sending the information directly. That distinction is the main protection against treating every disclosure as a simple attachment. The SEC also says firms relying on the rule would need to meet requirements for timing, format, opt-out, free paper copies and website availability. ## Why it matters Chair Paul Atkins called default paper delivery an outdated cost paid by investors through paper, printing and postage. His [statement](https://www.sec.gov/newsroom/speeches-statements/atkins-statement-regulation-e-delivery-07-16-26) said the proposal was jointly developed by the Divisions of Investment Management, Corporation Finance, and Trading and Markets. For investors, the stakes are not only postage. E-delivery could make disclosures easier to search, store and analyze. It could also make a missed email, inaccessible portal or bad address more consequential if the final rule does not make access and failure remediation work in practice. The disclosure plumbing is adjacent to recent coverage of [SEC-CFTC swap data reporting](/news/news-sec-cftc-swap-data-reporting) and the practical task of reading [SEC EDGAR filings](/blog/sec-edgar-api-guide). The SEC framed the proposal as a modernization move. The countercase is that delivery is only useful if the recipient can find, open and keep the document when it matters. ## What comes next The comment period will stay open for 60 days after the proposing release is published in the Federal Register. The file number is S7-2026-25, and the SEC release links to the public comment page. Until the Commission adopts a final rule, the July 16 action is a proposal. The next evidence will be the comment file: broker-dealers, funds, issuers, transfer agents, investor advocates, accessibility groups and paper-delivery providers will show where the digital-default model is workable and where it still needs guardrails. *This article is informational only and is not investment, legal or regulatory advice.* ## Citation and verification - Cite the canonical HTML article: https://arkolith.com/news/news-sec-edelivery-investor-disclosures - Follow the links in the article to verify claims against the named primary or trustworthy sources. - Publication and update times above are the newsroom's recorded timestamps.