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Investor Groups Take On SEC Paperless Reporting Rule

Law360 (June 7, 2018, 8:14 PM EDT) -- Investor advocates on Thursday vowed to press forward with opposition to a plan approved earlier this week by the U.S. Securities and Exchange Commission that allows mutual fund companies to release most shareholder reports online and send out paper documents only upon request.

While supporters of the rule say it will significantly reduce costs for fund companies, savings that will be passed down to investors, opponents argue the plan — which requires investors to notify fund companies if they want to continue receiving paper reports — will potentially deprive fundholders of important information, saying they hope Congress will step in on...

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