NEC Supports eDelivery Legislation
On July 11, 2023, The New England Council sent a letter to the New England House Delegation urging members to support H.R. 1807, the Improving Disclosure for Investors Act of 2023. This bipartisan bill would direct the Securities and Exchange Commission (SEC) to transition the default method for receiving investor documents and disclosures from paper to digital (eDelivery). If signed into law, this legislation would update aging SEC regulations to provide investors with more secure, timely, and environmentally friendly forms of communication.
Earlier this year, the legislation was introduced by Congressman Bill Huizenga of Michigan and is cosponsored by Massachusetts Congressman Jake Auchincloss. In March 2023, the bill was passed out of the House Financial Services Committee and is currently before the full House of Representatives for consideration.
The New England Council’s Financial Services Committee believes that updating current SEC guidelines to default to eDelivery would benefit investors across the region by creating more engaging access to important investment information.
For more information on the Council’s Financial Services Committee, please contact Griff Doherty.