SEC Modernizes Delivery of Fund Reports and Seeks Public Comment on Improving Fund Disclosure

June 22, 2018

On June 4, 2018, the SEC adopted new rule 30e-3, which 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 on a website, free of charge, and sending investors a paper notice of a report’s availability by mail. Investors who prefer to receive a full report in paper may choose that option at any time free of charge. Funds may rely on the new rule beginning on January 1, 2021.

The SEC is also seeking public comment on additional ways to modernize fund information. The input will help inform the SEC on how to modernize the design, delivery and content of fund information, including how to make better use of technology to provide more interactive and personalized disclosure.

Finally, the SEC is seeking comment on the framework for certain processing fees that broker-dealers and other intermediaries charge funds for delivering shareholder reports and other materials to investors.



Compliance, Investment Advisers, Investment Companies, Mutual Funds, Regulatory