News | 09.21.20
BlackRock, Schwab, Fidelity Press SEC for Wider Digital Delivery of Investment Documents
In a letter to the SEC, Fidelity Investments, Charles Schwab, and BlackRock called on the regulator to make electronic delivery the default option for sending regulatory documents to investors. “We believe that the SEC’s current framework that focuses on paper delivery as the primary method of transmission should be replaced with an approach that establishes the first means of communication as digital, with paper as an alternative, rather than the other way around,” the letter states. The asset managers are asking the SEC to enable financial firms to use an investor’s email address or smartphone number as the primary delivery address for regulatory documents.
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