SEC Proposes Electronic Delivery as the New Default for Investor Communications

On July 16, 2026, the SEC proposed Regulation E-Delivery, which would allow issuers, broker-dealers, investment advisers, and other market participants to satisfy many federal securities law delivery requirements electronically, without first obtaining affirmative investor consent. Investors would continue to have the option to receive paper copies upon request.

What this means:

• Electronic delivery could become the default for documents such as Form ADV Part 2 brochures, Form CRS, prospectuses, proxy statements, shareholder reports, and trade confirmations.
• Firms would need policies and procedures to manage electronic delivery, monitor failed transmissions, and maintain accurate electronic contact information.
• Investors currently receiving paper communications would receive advance notices and an opportunity to opt out before any transition.
• The proposal reflects the SEC's broader effort to modernize investor communications while reducing paper, printing, and mailing costs.

For RIAs, broker-dealers, and firms with cross-border operations, this proposal highlights the importance of reviewing digital communication practices, recordkeeping, and client notification procedures as regulatory expectations continue to evolve.

ICS helps financial institutions strengthen compliance processes that keep pace with evolving regulatory requirements.

Read the full proposal.

ICS advises financial institutions navigating regulatory changes of this type. If your firm needs to assess the impact of this development on your compliance program, contact us to discuss.