In a Statement for the Record for a House Financial Services Subcommittee on Capital Markets hearing to consider the so-called “Improving Disclosure for Investors Act of 2023,” CFA’s Director of Investor Protection Micah Hauptman stated that, while we would welcome improving disclosures for investors, nothing about this bill would do so. Rather, this bill would allow firms to default investors into electronic delivery when there is no evidence that investors who prefer electronic delivery face any difficulties in exercising that choice—it is a solution in search of a problem—and would do so without regard for extensive evidence that the change is likely to reduce investor readership of key disclosures.” Accordingly, Hauptman urged members of the subcommittee to oppose this misguided bill.