July 20, 2015
I’m hopeful you will strongly consider not adopting the changes in proposed Rule 30e-3. According to you own 2012 study by Siegel + Gale 71% of American investors prefer to read their annual reports in paper format. The same study asserted that printed materials yield higher content comprehension than online materials.
Rule 30e-3 would also impede access for many investors, especially the elderly, disabled and minorities – all demographics that are less likely to have regular access to the internet. One study showed that 41% of Americans over the age of 65 do not use the internet, yet, studies show 34% of this population own mutual funds.
This rule would increase the burden on the consumer while providing benefits to the investment companies. A consumer should have the right to opt out of receiving a paper report. They should not face the burden of requesting to opt in.
Thank you.Tim O’Hanlon