Improving Disclosure for Investors Act of 2025
Congress Tells SEC to Expand Electronic Delivery of Investor Disclosures, With Opt-Out for Paper
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Congress directs the Securities and Exchange Commission to set rules so investment firms and brokers can send required investor documents electronically instead of by mail.
- Investors must still get a paper notice at the start, can opt out anytime, and keep receiving paper copies if they prefer.
- The plan includes a short switch-over window (up to 180 days) and then paper reminders (once a year for up to 2 more years) that you can go back to paper.
- Firms would have to address failed electronic deliveries, and electronic documents must be readable and easy to save for later.
- If the SEC misses the deadline to finish the rules, companies can still use the bill’s electronic-delivery standards and count that as meeting their legal duty.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
5 articles
ASA presses SEC to unlock e-delivery for shareholder communications
American Securities Association urges the SEC to expand electronic delivery of investor communications, pointing to recent House action that included the Improving Disclosure for Investors Act.
ICI presses SEC on default e-delivery for fund documents
Investment Company Institute asks SEC to shift to default electronic delivery, explicitly tying the push to Congress considering the Improving Disclosure for Investors Act of 2025.
Senators introduce bill promoting e-delivery of investment documents
Earlier Senate version of the proposal is described, providing background on the default e-delivery approach and investor opt-out debate.
Source Information
Document Type
Congressional Bill
Official Title
Improving Disclosure for Investors Act of 2025
Data Sources
Sponsor
Cosponsors
(10)Analysis generated by AI. Always verify with official sources.