By Beagan Wilcox Volz
SEC chair Mary Jo White announced last week that the proposal for default e-delivery of funds’ annual and semi-annual shareholder reports had been dropped from the final fund reporting modernization rule, but said she had instructed the agency’s staff to “vigorously evaluate” the investor protection issues it raised and put forth a recommendation by year-end.
Hopes Pinned on Future SEC Chair(s)
Whoever becomes the next chairman of the SEC likely will play a big role in whether the proposed rule languishes or gets resurrected, says Paul Atkins, a former SEC commissioner who is now CEO of Patomak Global Partners, a financial services consulting firm.
“Usually it takes a chairman who has a real interest” to bring a proposal back to life, says Atkins, adding that the chair determines the agenda and what issues staff take up.
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