Americans Overwhelmingly Oppose SEC’s Regulation E-Delivery

More than 100,000 Americans submitted comments opposing the US Securities and Exchange Commission’s proposed Regulation E-Delivery, according to the Protect Paper Choice Coalition. The proposal would make electronic delivery the default for certain financial disclosures, with recipients having to opt in to receive paper documents.

The coalition includes the American Forest & Paper Association (AF&PA) and the Envelope Manufacturers Association (EMA). Both organisations argue that recipients should retain the ability to receive sensitive financial information on paper without additional barriers.

“For so many Americans, especially seniors, rural communities and individuals without reliable internet access, paper delivery is essential,” said Mark Pitts, AF&PA vice president of industry affairs. He noted that digital delivery was already available to people who choose it.

Marie Clarke, EMA president, said the association was concerned that a digital default could expose vulnerable consumers to online scams. The coalition cited polling in which 80% of US consumers wanted to choose how to receive important communications and 65% expressed concern about electronic data being compromised. Those figures are presented by the coalition as part of its case against the proposal.

The SEC rule remains a proposal; no change to the delivery default has taken effect through this announcement.