Alpharetta, GA — Wise, a leader in business forms, labels, and digital printing, is taking a strong “no” position on S. 3815 Improving Disclosure for Investors Act of 2024 and urges the printing industry to take action.

The Improving Disclosure for Investors Act of 2024, S. 3815, would change the rules for delivery of investor documents and undermine the print community. It has already passed the House of Representatives and is moving on to the Senate.

The current default for investor documents is paper delivery—a significant source of revenue for many printers and print resellers—but S. 3815 would change the law to allow investment firms to “default” investors into receiving electronic delivery (e-delivery) instead. This would eliminate printing of high-volume products such as investment disclosures and account statements.

While the argument is made that a significant majority of investors prefer electronic delivery, there are still millions of Americans who do not use the Internet or who are smartphone-dependent, making it difficult to access e-delivered investor information (such as information regarding their retirement accounts) needed to make critical decisions. It is important that our Congress not enact legislation that would undermine access to critical information.

Wise urges members of the printing industry to send a message to their Senators immediately, asking them to vote “no” to S. 3815.