February 27, 2007
To Whom It May Concern:
I appreciate the opportunity to offer comments regarding the SECs proposed Universal Internet Availability of Proxy Materials Rule, File Number S7-03-07.
My concern rests with the requirement of a permanent election to receive paper or e-mail copies of future proxy solicitations. Individuals change email addresses for a variety of reasons, including a job change, excessive junk mail, and changes in internet service providers. There is a high likelihood that a permanent election will result in messages getting lost in the shuffle. Furthermore, an individual who actively trades in a particular security may incorrectly believe that that company has kept previous elections active and may not be aware that there is a need to re-elect a delivery method since the closing of the investors position.
Placing the onus squarely on shareholders to review a companys investor relations site is the correct approach and will prevent the confusion that can arise when investors may claim that they were not properly notified.
Thank you for taking this item into consideration,
Ayal Rosenthal