August 6, 2015
Please stop this new obsurd rule in it tracks this is rediculas it is seting a terrible presidence.
1. Paper is still the preferred method of transmission for investors. According to the SECs own study conducted
by Siegel + Gale in 2012, 71 percent of American investors said they prefer to read annual reports in paper format
rather than online versions, and a large number of respondents also asserted that printed materials yield higher content
comprehension.
2. Proposed Rule 303-3 would impede access for many investors, especially the elderly, those with disabilities, and minority
Americansall demographics that are less likely to have regular Internet access. For example, 41 percent of Americans
over 65 years of age do not use the Internet yet (Pew Research Center, 2014). According to the Investment Company Fact
Book, 34 percent of this population owns mutual fund.
3. Paper is a superior distribution method for important information. In a recent national survey, 88 percent of respondents
said that they understand and can retain or use information better when they read print on paper, and when given a choice,
81 percent of respondents prefer to read print on paper (Two Sides, 2015).
4. A recent study found at book magazine shows e reading of books is way down for example the article states that
ebook purchases dropped from AAP Members and Hachette by bstantial margins the article is Dated August 6th 2015.
This is a bad rule and needs to be dropped immediately.