Recent SEC Breach Amplifies Need for Paper Options

Oct 03, 2017

CONTACT: Heather Stegner/Chuck Fuqua
(202) 463-2436, comm@afandpa.org

WASHINGTON - The American Forest & Paper Association (AF&PA) President and CEO Donna Harman issued the following statement regarding the Securities and Exchange Commission’s (SEC) Proposed Rule 30e-3 in light of the agency’s recent hacking announcement. The rule would eliminate the current default requirement for financial companies to transmit information to their investors in paper form.
 
“Government agencies have a responsibility to protect citizen’s right to choose how to receive information and services, particularly when it involves a person’s finances. The SEC’s own survey confirmed that the majority of investors prefer to receive financial information in printed form. Investors must be able to receive important financial documents easily and securely. Paper provides the broadest access to all investors, and therefore, should continue to be the default method of delivery.” 


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The American Forest & Paper Association (AF&PA) serves to advance a sustainable U.S. pulp, paper, packaging, tissue and wood products manufacturing industry through fact-based public policy and marketplace advocacy. AF&PA member companies make products essential for everyday life from renewable and recyclable resources and are committed to continuous improvement through the industry’s sustainability initiative - Better Practices, Better Planet 2020. The forest products industry accounts for approximately four percent of the total U.S. manufacturing GDP, manufactures over $200 billion in products annually, and employs approximately 900,000 men and women. The industry meets a payroll of approximately $50 billion annually and is among the top 10 manufacturing sector employers in 45 states. Visit AF&PA online at www.afandpa.org or follow us on Twitter @ForestandPaper.