Subject: File No. S7-08-15
From: Dennis J Pack

January 10, 2016

While there are many financially sophisticated investors in the United States there are even more investors who are not so well versed in the ways of stocks and mutual funds. Most of the latter group rely upon the regular mailings they receive from the funds in which they have invested. Most of these investors are not professionals, who can afford either the time or the professional advice necessary to keep track of all the constant changes in their funds. Switching to an electronic notification process would add considerable confusion to an already overloaded barrage of emails where many already have a hard time distinguishing between legitimate email correspondence and bogus flim-flam schemes. While the big guys own the majority of the dollar value of stocks and mutual funds, the little guys make up the majority of the number of investors. Maintaining a hard-copy mail notification, as the default method, would better serve the vast majority of Americans.