Uncoated paper: Paper industry loses bid against online report rule
TORONTO, ON, Aug. 23, 2019 (Fastmarkets RISI) -Paper industry representatives cannot challenge a US Securities and Exchange Commission (SEC) rule allowing investment firms to only post shareholder reports online, a District of Columbia Circuit judge decided on Aug. 16.
The industry groups' interests lie "beyond those protected or regulated by the securities laws," the US Court of Appeals said.
A rule the SEC adopted in 2018 allows investment companies to post shareholder reports online and mail paper copies to shareholders upon request, flipping the prior distribution standard.
The shareholder reports are typically printed on uncoated freesheet paper and also on uncoated groundwood paper.