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Poliquin Seeks to Preserve Mailings of Paper Financial Statements

WASHINGTON - Maine Second District Congressman Bruce Poliquin today questioned the chair of the Securities and Exchange Commission about proposed rules that would do away with the automatic mailing of paper financial statements and other reports to investors.

Poliquin says it's a real issue for Maine seniors who have spotty access to the Internet, and when some just prefer paper reports. "It makes a lot of sense to make sure that our investors have the option of receiving their paper financial reports, unless they opt out. Otherwise it's much too confusing."

Poliquin says it makes more sense to require the paper reports unless a person opts to have the reports in electronic form. Mary Jo White, chair of the commission, says she understands Poliquin's concerns, and says they will be considered during the rulemaking that is now underway.