Political Quotes

“Mr. Chair, I yield myself 2\1/2\ minutes. Mr. Chair, for 90 years, the Securities and Exchange Commission has been tasked with three things: protect investors; maintain fair, orderly, and efficient markets; and finally, facilitate capital formation. The amendment before us today does all three. First, it directs the Securities and Exchange Commission to promulgate rules with respect to electronic delivery of some required disclosures to retail investors. Second, it provides a transition period, allowing an initial paper communication about the electronic delivery to be sent to existing investors. Third, during a period not to exceed 2 years, the amendment requires delivery of the annual notice in paper solely to remind investors of the ability to opt out of that and into electronic delivery at any time. Lastly--and I can't emphasize this enough--this amendment provides a mechanism for investors at any time to opt out of e-delivery, and once again, you will receive paper versions of the documents. You want paper, Mr. Chair, you get it. You want e-delivery, you can get that, too. E-delivery is not a new and radical concept, but frankly, it is long overdue, and the data supports the facts. In 2018, the Social Security Administration eliminated paper as its primary method of delivering benefit statements to individuals.…”