Opportunity
Federal Register #S7-2026-25
SEC Proposes Regulation E-Delivery for Electronic Transmission of Securities Disclosures
Buyer
Securities and Exchange Commission
Posted
July 21, 2026
Respond By
September 22, 2026
Identifier
S7-2026-25
The Securities and Exchange Commission (SEC) is proposing Regulation E-Delivery to modernize the electronic delivery of regulatory disclosures under federal securities laws. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - No specific OEMs or commercial vendors are named; the rule applies to covered entities such as issuers, investment companies, broker-dealers, investment advisers, and transfer agents - Products/Services Requested: - No physical products or commercial services are being procured; the rule governs the delivery of: - Proxy materials and information statements (Regulations 14A and 14C) - Tender offer materials (Rule 14d5) - Shareholder reports (Rule 30e-3, to be rescinded) - Unique or Notable Requirements: - Electronic delivery becomes the default method for regulatory disclosures, eliminating the need for prior affirmative consent - Recipients retain the right to opt out and receive paper copies at no charge - Covered entities must implement safeguards for personal financial information and ensure website availability for disclosures - Transition provisions require a two-year compliance period for moving from paper to electronic delivery - Estimated annual cost savings for covered entities are approximately $463 million - The rule aligns delivery practices with modern technologies, including cloud storage, AI, and blockchain
Description
The Securities and Exchange Commission (SEC) is proposing Regulation E-Delivery, which sets conditions for covered entities to deliver information electronically without obtaining prior consent. The proposal includes rescinding existing rules on shareholder report transmission and amending rules on proxy materials and tender offer materials. The rule aims to modernize delivery methods, improve efficiency, and provide cost savings to issuers and investors by making electronic delivery the default option. Comments on the proposal are due by September 21, 2026.