August 3, 2015
Dear Sir or Madam;
This email is in regards to the proposed ruling to shift the default delivery method of shareholder reports.
This ruling is likely to have a negative affect on the paper industry, it's shareholders and its employees and consequently a negative affect on overall GDP.
Paper is still the preferred method of transmission for investors. According to SEC’s 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 than online materials.
Additionally, Rule 30e-3 would impede access for many investors, especially the elderly, those with disabilities, and minority Americans – all 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, according to the Investment Company Fact Book, 34 percent of this population owns mutual funds.
I ask you please reconsider the proposed ruling.
Regards,
Julie Madalinski