• SEC Permits Internet Delivery of Investment Company Shareholder Reports— Including Insurance Company Separate Accounts
  • July 4, 2018 | Authors: Stephen E. Roth; Cynthia R. Beyea; Dodie C. Kent; Frederick R. Bellamy
  • Law Firms: Eversheds Sutherland (US) LLP - Washington Office; Eversheds Sutherland (US) LLP - Washington Office; Eversheds Sutherland (US) LLP - New York Office
  • The Securities and Exchange Commission (SEC) on June 5, 2018, adopted Rule 30e-3 under the Investment Company Act (the Rule), which permits “notice and access” delivery of investment company shareholder reports via website posting. The Rule provides registered management investment companies and any separate series thereof (i.e., funds) and certain registered unit investment trusts (UITs), including insurance company separate accounts registered as UITs, with an optional internet-based method of satisfying requirements to transmit shareholder reports required by Rule 30e-1 for funds and by Rule 30e-2 for UITs. Under Rule 30e-3, funds and UITs can make internet notice and access delivery the default option, with paper reports required to be mailed to shareholders who request paper.