August 6, 2015
Dear Secretary Fields,
I am personally opposed to the proposed rule 30e-3 as the elimination of mandated paper literature would certainly turn a working dual system of electronic and printed financial literature into a single system which certainly creates a situation of less educated elder investors who use the paper version as a primary investment tool.
The notion that electronic only is best has not been proven and, in fact, been proven to lessen the availability of immediate option to the consumer looking for information.
I feel a current dual system, not an opt-in system only, serves the investment community in making sounds decisions.
although you state that a paper version can be obtained by requiring additional steps for the investor to get the material, it is not without a burden, loss of personal time and, if hard to get, will turn off an aging investor versus the young investor who are just beginning to participate in the financial markets.
I do hope that this proposed rule is delayed at the least until further investigation into the negatives is allowed to surface. I know of many situations where internet service is down for an extended period, websites including the government are hacked, and going to a standard site for accurate information can be misleading. Paper has continued value in helping our country's elder investors continue to gather important information to make decisions rather than the confusion to the majority of these seeking information via the internet solely. A dual system continues to be better than a single source when trying to education the total population.