The Securities and Exchange Commission proposed Regulation E-Delivery on July 16, 2026. The proposed rule would expand the ability of issuers, broker-dealers, investment advisers, and others to use electronic delivery to satisfy information delivery requirements under the federal securities laws.

Under the proposal, required information could generally be delivered electronically without first obtaining affirmative consent, subject to specified requirements and conditions. Recipients would retain the ability to receive delivery in paper format on request. The approach would generally supersede the Commission’s decades-old, guidance-based e-delivery framework.

A broader range of disclosures

The Commission said the proposal reflects how issuers, market intermediaries, investors, and others use electronic media to provide and access information. Electronic delivery could provide potentially more personalized, interactive, timely, and efficient experiences with disclosure, as well as accessibility and retention benefits. The proposed rule would cover a broad range of information, including:

  • Prospectuses for funds and other issuers
  • Fund annual and semi-annual shareholder reports
  • Proxy statements
  • Trade confirmations
  • Disclosures pursuant to Form CRS
  • Form ADV Part 2 Brochures

The proposal also includes a transition process for investors and others who currently receive regulatory information in paper format. Recipients who would be transitioned to e-delivery under the rule would receive two paper notices. The notices would provide information about the upcoming transition and the ability to opt out of e-delivery.

The Commission said the proposed approach could reduce paper, printing, and postage costs for issuers, market intermediaries, and ultimately investors. SEC Chairman Paul S. Atkins said, “Today, the Commission took an important step toward allowing the financial services industry to harness technology for the benefit of everyday American investors.” He added that permitting electronic delivery to become the default method would be “another stride toward a regulatory framework suitable for the modern era.”

The public comment period will remain open for 60 days following publication of the proposing release in the Federal Register.