United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2018_register executive 2018-11-06 article Part II Rules and Regulations D09002ee1c7e59b62 D09002ee1c7e59f4f United States Securities and Exchange Commission originator org United States Government Agency or Subagency The Securities and Exchange Commission is adopting new rule 30e-3 under the Investment Company Act of 1940. Subject to conditions, new rule 30e-3 will provide certain registered investment companies with an optional method to satisfy their obligations to transmit shareholder reports by making such reports and other materials accessible at a website address specified in a notice to investors. We are also adopting amendments to rule 498 under the Securities Act of 1933 and our fund registration forms to require that during a certain transition period funds that choose to implement the new delivery method for shareholder reports provide prominent disclosures in prospectuses and certain other shareholder documents that will notify investors of the upcoming change in transmission format for a period of two years. New rule 30e-3 and the amendments to rule 498 and our registration forms address the fact that some investors may wish to receive shareholder reports in paper. As such, the new rule incorporates a set of protections so that investors who prefer to receive reports in paper will continue to receive them in that format. These protections include, among others, a minimum length phase-in period that ends no earlier than December 31, 2020 and notice requirements that must be implemented and followed beginning January 1, 2019, or the date shares are first publicly offered, if a registered investment company would want to use new rule 30e-3 as of January 1, 2021. The rule requires that a paper notice be sent to an investor each time a current shareholder report is accessible online. The notice must include instructions for how an investor can elect--at any time--to receive all future reports in paper, or request to receive particular reports in paper on an ad hoc basis. We are also adopting related amendments to certain other rules and forms. This optional method is intended to modernize the manner in which periodic information is made available to investors, which we believe will improve investors' experience while reducing expenses associated with printing and mailing shareholder reports that are borne by investment companies and ultimately their investors. 83 FR 29158 https://www.govinfo.gov/app/details/FR-2018-06-22/2018-12423 2018-12423 fr22jn18-29 RIN 3235-AL42 8011-01-P Release Nos. 33-10506 34-83380 IC-33115 File No. S7-08-15 https://www.govinfo.gov/app/details/FR-2018-06-22/2018-12423 https://www.govinfo.gov/content/pkg/FR-2018-06-22/html/2018-12423.htm https://www.govinfo.gov/content/pkg/FR-2018-06-22/pdf/2018-12423.pdf Administrative Practice and Procedure Organization and Functions (Government Agencies) Investment Companies Reporting and Recordkeeping Requirements Securities 52 p. 29158 29209 83 FR 29158 Title 17 Part 200 17 CFR Part 200 Title 17 Part 230 17 CFR Part 230 Title 17 Part 239 17 CFR Part 239 Title 17 Part 240 17 CFR Part 240 Title 17 Part 249 17 CFR Part 249 Title 17 Part 270 17 CFR Part 270 Title 17 Part 274 17 CFR Part 274 RIN 3235-AL42 Optional Internet Availability of Investment Company Shareholder Reports; Federal Register Vol. 83, Issue RULE 2018-12423 II SECURITIES AND EXCHANGE COMMISSION 2019-01-01 Release Nos. 33-10506 34-83380 IC-33115 File No. S7-08-15 8011-01-P 2018-12423 Final rule.

The Securities and Exchange Commission is adopting new rule 30e-3 under the Investment Company Act of 1940. Subject to conditions, new rule 30e-3 will provide certain registered investment companies with an optional method to satisfy their obligations to transmit shareholder reports by making such reports and other materials accessible at a website address specified in a notice to investors. We are also adopting amendments to rule 498 under the Securities Act of 1933 and our fund registration forms to require that during a certain transition period funds that choose to implement the new delivery method for shareholder reports provide prominent disclosures in prospectuses and certain other shareholder documents that will notify investors of the upcoming change in transmission format for a period of two years. New rule 30e-3 and the amendments to rule 498 and our registration forms address the fact that some investors may wish to receive shareholder reports in paper. As such, the new rule incorporates a set of protections so that investors who prefer to receive reports in paper will continue to receive them in that format. These protections include, among others, a minimum length phase-in period that ends no earlier than December 31, 2020 and notice requirements that must be implemented and followed beginning January 1, 2019, or the date shares are first publicly offered, if a registered investment company would want to use new rule 30e-3 as of January 1, 2021. The rule requires that a paper notice be sent to an investor each time a current shareholder report is accessible online. The notice must include instructions for how an investor can elect--at any time--to receive all future reports in paper, or request to receive particular reports in paper on an ad hoc basis. We are also adopting related amendments to certain other rules and forms. This optional method is intended to modernize the manner in which periodic information is made available to investors, which we believe will improve investors' experience while reducing expenses associated with printing and mailing shareholder reports that are borne by investment companies and ultimately their investors.

This rule is effective January 1, 2019, except: J. Matthew DeLesDernier and John Lee, Senior Counsels; or Michael C. Pawluk, Senior Special Counsel, at (202) 551-6792, Investment Company Regulation Office, Division of Investment Management, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-8549. Administrative Practice and Procedure Organization and Functions (Government Agencies) Investment Companies Reporting and Recordkeeping Requirements Securities Optional Internet Availability of Investment Company Shareholder Reports , http://assets.pewresearch.org/wp-content/uploads/sites/14/2015/06/2015-06-26_internet-usage-across-demographics-discover_FINAL.pdf http://assets.pewresearch.org/wp-content/uploads/sites/14/2017/05/16170850/PI_2017.05.17_Older-Americans-Tech_FINAL.pdf http://files.consumerfinance.gov/f/201410_cfpb_final-rule_annual-privacy-notice.pdf http://pewinternet.org/Reports/2013/Non-internet-users.aspx http://www.consumerfinance.gov/policy-compliance/rulemaking/rules-under-development/amendment-annual-privacy-notice-requirement-under-gramm-leach-bliley-act-regulation-p/ http://www.ici.org/research/stats http://www.investor.gov/publications-research-studies/sec-research http://www.pewinternet.org/2014/04/03/older-adults-and-technology-use/ http://www.sec.gov/pdf/disclosuredocs.pdf http://www.usfinancialcapability.org/downloads/NFCS_2015_Inv_Survey_Full_Report.pdf https://www.census.gov/content/dam/Census/library/publications/2017/acs/acs-37.pdf https://www.ici.org/pdf/2017_factbook.pdf https://www.ici.org/pdf/per23-07.pdf https://www.sba.gov/content/sbic-program-overview https://www.sec.gov/comments/265-28/26528-2748128-161587.pdf https://www.sec.gov/comments/s7-08-15/s70815.shtml www.sec.gov/comments/s7-08-15/s70815.shtml Vol. 83, no. 121 Office of the Federal Register, National Archives and Records Administration 2018-06-22 continuing daily deposited born digital 466 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2018-06-22 P0b002ee19da41fe0 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr22jn18 https://www.govinfo.gov/app/details/FR-2018-06-22 https://www.govinfo.gov/content/pkg/FR-2018-06-22/pdf/FR-2018-06-22.pdf https://www.govinfo.gov/content/pkg/FR-2018-06-22/xml/FR-2018-06-22.xml fdlp 28977 29434 DGPO 2018-11-06 2024-06-01 FR-2018-06-22 machine generated eng FR FR-2018-06-22 83 121