The SEC Proposes E-delivery Regulation: What Firms Need to Know

In recent remarks, SEC Chair Paul Atkins described warehouses packed full of disclosure papers, sitting idle as they await mailing. His point was clear: paper should be the exception, not the rule. Last month, the SEC sent its e-delivery rule to the Office of Information and Regulatory Affairs (OIRA) for review and Atkins was direct about its scope: this will go broader than traditional email and apply across broker-dealers, investment advisors, funds, and issuers alike.

Since this article was originally published, the SEC has now formally proposed the e-delivery regulation, marking the next step toward making electronic delivery the industry default.

The End of Opt-In

For decades, e-delivery has required affirmative opt-in, with paper as the default. Although initiatives such as Notice and Access (NAA) and Rule 30e-3 chipped away at this model, paper delivery is still the standard. A shift to default e-delivery wouldn't just be another step towards reducing paper—it would flip the default entirely, replacing the current opt-in requirement for e-delivery with an opt-in for paper instead.

FINRA has already moved. In December 2025, it approved a proposal making e-delivery the default for broker-dealers, while preserving investors' right to opt out and receive paper. Together, these developments point to a future where paper delivery becomes the exception rather than the norm. 

Industry Pressure Is Intensifying

Support for default e-delivery extends well beyond the SEC; the industry itself is driving the push. Groups such as SIFMA and the Investment Company Institute argue that default e-delivery would better align regulation with today’s investor habits, while cutting unnecessary printing and postage costs. Legislative efforts such as the Improving Disclosure for Investors Act reflect the same bipartisan interest, and survey data routinely confirms that investors are comfortable with digital delivery.

This shift may sound significant, but the industry is not starting from scratch. Many broker-dealers already rely heavily on e-delivery and NAA; in fact, BetaNXT’s current clients typically have an 80/20 split between those methods and paper delivery. We have the technology, preference management, campaign execution, call center support, and compliance safeguards needed to help firms manage the transition thoughtfully and at scale.

Prepare Now for Default E-Delivery

With the proposal now released, firms have an opportunity to assess their readiness and begin planning for a potential transition to default e-delivery. Our latest whitepaper, "The Shift to E-delivery: Preparing Brokers and Proxy Service Providers for the Future," outlines what firms should focus on to get ahead of this shift:

• A rollout strategy that segments clients by product type and engagement activity
• Educational materials for customers new to e-delivery, sustained over a transition period
• Enhancements to online access systems and data infrastructure
• Updated compliance processes and written supervisory procedures
• Adequate support readiness, including call center capacity

How BetaNXT Helps

BetaNXT's platform was built digital-first, so clients aren't limited to email. Our platform is already built to support notifications through portal, email, push, or text while adequately tracking evidence of delivery. This modernized infrastructure powers the full range of investor and client communications from regulatory documents like proxy statements and prospectuses to correspondence like statements and confirmations. That same infrastructure powers the campaigns we run for clients. This includes consent solicitation, paper suppression, and shareholder notices, all backed by call center support and electronic preference management capture. Every campaign comes with compliance safeguards to ease the transition. The result is a structured path to e-delivery adoption, without leaving investors behind.

Download the white paper.

Let's Talk

While the timing of the final rule remains uncertain, the momentum behind default e-delivery is clear. Firms that prepare now will be ready when the rule takes effect. Contact us to find out how we can help.