U.S. Rep. Bill Huizenga, R-Zeeland, Vice Chairman of the House Committee on Financial Services, has announced the introduction of the Improving Disclosure for Investors Act.
The bipartisan bill was introduced last week with Reps. Brad Sherman, D-Calif., Bryan Steil, R-Wis. and Jake Auchincloss, D-Mass. The Improving Disclosure for Investors Act directs the Securities and Exchange Commission to engage in rulemaking that would allow registered investment companies to meet their obligation to deliver regulatory documents to investors under the federal securities laws using electronic means.
“The Improving Disclosure for Investors Act is designed to modernize disclosure requirements, building on President Trump’s efforts to make our financial system more efficient and inclusive,” Huizenga said. “Continuing to send customers paper disclosure notices is not only wasteful but fails to acknowledge that digital communications are safer and more effective in reaching all Americans.”
The SEC currently permits electronic delivery of certain documents under the federal securities laws, subject to requirements that a registrant provide notice that the information is available electronically, the investor has effective access to such information, and the registrant either obtains evidence to show actual delivery or obtains informed consent from the investor.
In 2023, the SEC announced a proposal that would require electronic submissions for nearly all forms, filings, and other materials. The proposal further highlights the need for a more digitalized reporting ecosystem.
The bipartisan bill was introduced last week with Reps. Brad Sherman, D-Calif., Bryan Steil, R-Wis. and Jake Auchincloss, D-Mass. The Improving Disclosure for Investors Act directs the Securities and Exchange Commission to engage in rulemaking that would allow registered investment companies to meet their obligation to deliver regulatory documents to investors under the federal securities laws using electronic means.
“The Improving Disclosure for Investors Act is designed to modernize disclosure requirements, building on President Trump’s efforts to make our financial system more efficient and inclusive,” Huizenga said. “Continuing to send customers paper disclosure notices is not only wasteful but fails to acknowledge that digital communications are safer and more effective in reaching all Americans.”
The SEC currently permits electronic delivery of certain documents under the federal securities laws, subject to requirements that a registrant provide notice that the information is available electronically, the investor has effective access to such information, and the registrant either obtains evidence to show actual delivery or obtains informed consent from the investor.
In 2023, the SEC announced a proposal that would require electronic submissions for nearly all forms, filings, and other materials. The proposal further highlights the need for a more digitalized reporting ecosystem.
State Legislative Leaders Form Crypto Caucus
Senate Republican Leader Aric Nesbitt and House Regulatory Reform Committee Chair Joseph Aragona haver announced the formation of a bipartisan legislative Michigan Cryptocurrency and Financial Innovation Caucus to foster learning, discussion and policy development around cryptocurrencies and other financial technology issues.
“This caucus will help lawmakers learn and work together in order to bring forward the right policies to make Michigan a leader in this field and a place where innovation can flourish,” said Nesbitt, R-Porter Township. “Let’s work together to make Michigan the crypto capital of the nation.”
The announcement comes just weeks after the bipartisan Congressional Crypto Caucus was formed to prioritize the advancement of digital assets and blockchain technology and provide a federal regulatory framework for the $3 trillion digital asset industry.
“The rise of cryptocurrencies and advances in financial technologies present great opportunities for all Michiganders,” said Aragona, R-Clinton Township. “The bipartisan Cryptocurrency and Financial Innovation Caucus will collaborate to keep Michigan at the forefront of this industry and ensure our future prosperity.”
“This caucus will help lawmakers learn and work together in order to bring forward the right policies to make Michigan a leader in this field and a place where innovation can flourish,” said Nesbitt, R-Porter Township. “Let’s work together to make Michigan the crypto capital of the nation.”
The announcement comes just weeks after the bipartisan Congressional Crypto Caucus was formed to prioritize the advancement of digital assets and blockchain technology and provide a federal regulatory framework for the $3 trillion digital asset industry.
“The rise of cryptocurrencies and advances in financial technologies present great opportunities for all Michiganders,” said Aragona, R-Clinton Township. “The bipartisan Cryptocurrency and Financial Innovation Caucus will collaborate to keep Michigan at the forefront of this industry and ensure our future prosperity.”
Peters, Moreno to Lead Senate Great Lakes Task Force
U.S. Sens. Gary Peters, D-Mich., and Bernie Moreno, R-Ohio, will lead the Senate Great Lakes Task Force in the 119th Congress.
Founded in 1987, the Task Force is a bipartisan working group that advocates for the protection of the Great Lakes. As co-chairs, Peters and Moreno will convene meetings between Great Lakes senators and staff to coordinate legislative initiatives, funding priorities, and oversight efforts to address the most important issues facing the Great Lakes.
“The Great Lakes are essential to our economy, environment, and way of life in Michigan,” Peters said. “As someone who has made protecting the Great Lakes a top priority throughout my years in public service, I’m honored to serve as co-chair of this important task force. I look forward to working with my colleagues to make sure we’re providing the resources necessary to keep the Great Lakes healthy and vibrant for generations to come.”
“The Great Lakes are a cornerstone of our lifestyle in the Midwest, and Lake Erie is a crucial resource for Northeast Ohio,” Moreno said. “I’m grateful to serve as the co-chair of the Great Lakes Task Force to protect the Great Lakes and ensure our children, grandchildren, and great-grandchildren are able to utilize them.”
Peters has been a steadfast supporter of the Great Lakes, advocating for policies that safeguard Michigan waters, support local economies, and enhance environmental protections. Earlier this year, Peters introduced the Great Lakes Restoration Initiative (GLRI) Act of 2025 to reauthorize and expand resources for the GLRI program, which has carried out the most significant investment ever made to restore our Great Lakes. As co-chair, he will play a key role in uniting Great Lakes Basin states to address pressing issues like invasive species, environmental contamination, shoreline erosion, water quality, infrastructure needs, and more.
Founded in 1987, the Task Force is a bipartisan working group that advocates for the protection of the Great Lakes. As co-chairs, Peters and Moreno will convene meetings between Great Lakes senators and staff to coordinate legislative initiatives, funding priorities, and oversight efforts to address the most important issues facing the Great Lakes.
“The Great Lakes are essential to our economy, environment, and way of life in Michigan,” Peters said. “As someone who has made protecting the Great Lakes a top priority throughout my years in public service, I’m honored to serve as co-chair of this important task force. I look forward to working with my colleagues to make sure we’re providing the resources necessary to keep the Great Lakes healthy and vibrant for generations to come.”
“The Great Lakes are a cornerstone of our lifestyle in the Midwest, and Lake Erie is a crucial resource for Northeast Ohio,” Moreno said. “I’m grateful to serve as the co-chair of the Great Lakes Task Force to protect the Great Lakes and ensure our children, grandchildren, and great-grandchildren are able to utilize them.”
Peters has been a steadfast supporter of the Great Lakes, advocating for policies that safeguard Michigan waters, support local economies, and enhance environmental protections. Earlier this year, Peters introduced the Great Lakes Restoration Initiative (GLRI) Act of 2025 to reauthorize and expand resources for the GLRI program, which has carried out the most significant investment ever made to restore our Great Lakes. As co-chair, he will play a key role in uniting Great Lakes Basin states to address pressing issues like invasive species, environmental contamination, shoreline erosion, water quality, infrastructure needs, and more.
Increased Unemployment Benefits, Added Weeks Take Effect
Significant changes in Michigan’s unemployment insurance law went into effect on Wednesday.
The law increases the maximum benefit amount by $84 a week, extends the maximum weeks benefits can be collected to 26, and more than doubles the amount per dependent.
The weekly unemployment benefits boost is the first for Michigan workers since the maximum amount was increased to $362 a week in 2002.
“Expanding unemployment benefits isn’t just about supporting workers in tough times — it’s about building a stronger, more resilient economy where every Michigander has the stability to recover, grow and thrive," Department of Labor and Economic Opportunity Director Susan Corbin said. "Increasing these benefits is a step in the right direction to help those navigating a sudden job loss to get back on their feet and to have financial support as they seek new employment.”
“The increases in benefits and weeks will put extra money into the pockets of thousands of Michiganders at a time when they need it the most. They spend that additional money at local businesses in communities across Michigan,” said Jason Palmer, director of the Michigan Unemployment Insurance Agency (UIA). “Unemployment benefits stabilize household budgets and provide a safety net for families while workers search for a new job.”
For new claims filed on April 2 or later, the law increases:
• The maximum weeks of benefits from the current 20 to 26. (The minimum number of weeks a worker can be eligible for benefits will still be 14.)
• The maximum weekly benefit from the current $362 to $446 this year, $530 in 2026, and $614 in 2027.
• The amount for each dependent (up to a maximum of five) from the current $6 each to $12.66 each this year, $19.33 each in 2026, and $26 each in 2027.
• Beginning in 2028, the state Treasurer will set the weekly benefit and dependent amounts, based on the national Consumer Price Index published by the Bureau of Labor Statistics, part of the U.S. Department of Labor (USDOL).
Gov. Gretchen Whitmer signed the changes to unemployment law in December, but the Legislature did not give immediate effect to the legislation, meaning the earliest the changes could be implemented is April 2.
The legislation did, however, specify Jan. 1, 2025, as the effective date for Michiganders to receive the higher benefit and dependent amounts.
UIA will review on a case-by-case basis active claims filed between Jan. 1 and April 2 and make retroactive determinations on claims to see which ones qualify for higher benefit and dependent amounts. If a claim qualifies for increased benefits, UIA will pay the difference to the claimant.
There will be no retroactive change to benefit weeks, since the new 26-week maximum applies only to new claims filed on April 2 or later.
On a small number of claims where a review has determined an overpayment, UIA will waive payments by claimants.
Claimants should watch their Michigan Web Account Manager (MiWAM) account for updates and be sure bank account information and/or addresses are up to date. If UIA sends a request for information, respond by the stated deadline and use only official forms from UIA to facilitate timely actions on a claim.
More information about the new law can be found at Michigan.gov/UIA.
The law increases the maximum benefit amount by $84 a week, extends the maximum weeks benefits can be collected to 26, and more than doubles the amount per dependent.
The weekly unemployment benefits boost is the first for Michigan workers since the maximum amount was increased to $362 a week in 2002.
“Expanding unemployment benefits isn’t just about supporting workers in tough times — it’s about building a stronger, more resilient economy where every Michigander has the stability to recover, grow and thrive," Department of Labor and Economic Opportunity Director Susan Corbin said. "Increasing these benefits is a step in the right direction to help those navigating a sudden job loss to get back on their feet and to have financial support as they seek new employment.”
“The increases in benefits and weeks will put extra money into the pockets of thousands of Michiganders at a time when they need it the most. They spend that additional money at local businesses in communities across Michigan,” said Jason Palmer, director of the Michigan Unemployment Insurance Agency (UIA). “Unemployment benefits stabilize household budgets and provide a safety net for families while workers search for a new job.”
For new claims filed on April 2 or later, the law increases:
• The maximum weeks of benefits from the current 20 to 26. (The minimum number of weeks a worker can be eligible for benefits will still be 14.)
• The maximum weekly benefit from the current $362 to $446 this year, $530 in 2026, and $614 in 2027.
• The amount for each dependent (up to a maximum of five) from the current $6 each to $12.66 each this year, $19.33 each in 2026, and $26 each in 2027.
• Beginning in 2028, the state Treasurer will set the weekly benefit and dependent amounts, based on the national Consumer Price Index published by the Bureau of Labor Statistics, part of the U.S. Department of Labor (USDOL).
Gov. Gretchen Whitmer signed the changes to unemployment law in December, but the Legislature did not give immediate effect to the legislation, meaning the earliest the changes could be implemented is April 2.
The legislation did, however, specify Jan. 1, 2025, as the effective date for Michiganders to receive the higher benefit and dependent amounts.
UIA will review on a case-by-case basis active claims filed between Jan. 1 and April 2 and make retroactive determinations on claims to see which ones qualify for higher benefit and dependent amounts. If a claim qualifies for increased benefits, UIA will pay the difference to the claimant.
There will be no retroactive change to benefit weeks, since the new 26-week maximum applies only to new claims filed on April 2 or later.
On a small number of claims where a review has determined an overpayment, UIA will waive payments by claimants.
Claimants should watch their Michigan Web Account Manager (MiWAM) account for updates and be sure bank account information and/or addresses are up to date. If UIA sends a request for information, respond by the stated deadline and use only official forms from UIA to facilitate timely actions on a claim.
More information about the new law can be found at Michigan.gov/UIA.
SBDC Hires New Business Consultants
(at left) - Dr. Shruti Bagla has been added to the Michigan Small Business Development Center Tech Team to support medical innovation efforts in Michigan; (at right) - Development Center Joe Carr will be a consultant to the Michigan Small Business Development Center Tech Team in the freshwater sector.
Photos courtesy Michigan Small Business
Photos courtesy Michigan Small Business
The Michigan Small Business Development Center (SBDC) and the Michigan Economic Development Corporation (MEDC) have announced the recent expansion of the Michigan SBDC Tech Team. Two new consultants have been added to accelerate the growth of high-tech entrepreneurship and reinforce Michigan’s leadership in the life sciences - MedTech and freshwater sectors.
Dr. Shruti Bagla will support the rapidly expanding health sector in Michigan, targeting Detroit and neighboring Ontario, with the aim of bolstering the region's reputation as a major hub for medical innovation. She will assist with medical startups in locating and accessing the specialized resources needed to thrive in a highly competitive market with uniquely lengthy timelines for success. One of her key priorities will be to enhance funding submissions in this cost-intensive sector where delays can significantly impede startup growth.
Bagla is a dynamic venture professional with deep expertise in commercializing advanced technologies and driving growth in the high-tech life sciences sector. She brings a unique blend of scientific rigor and executive leadership to the Michigan SBDC Tech Team, where she supports startups across growth stages. With a proven track record of evaluating startups, conducting due diligence, and scaling healthcare innovations — including medical devices, tech-enabled care delivery, and life science tools — Bagla has made a significant impact both within early-stage ventures and multi-billion-dollar healthcare systems.
Bagla holds a Ph.D. in molecular biology and genetics from Wayne State University, where she studied epilepsy and later in pediatric hematology/oncology. Currently, she is wrapping up her executive masters of business administration at the University of Michigan’s Ross School of Business.
Joe Carr will focus on positioning Michigan as a leader in freshwater innovation by supporting funding submissions and fostering strategic collaborations that drive technology development in rural areas and universities. One of his key responsibilities will be to engage stakeholders in the sector to create a shared vision and collaborate with advocacy groups and state agencies to tackle common challenges.
Carr has a successful track record in fostering economic growth and entrepreneurship, with extensive experience in launching and scaling successful businesses, coupled with a deep understanding of community needs. His unique qualifications have helped clients create and retain nearly 700 jobs, attract more than $56 million in investment, and launch more than 120 new companies. Carr has led multiple award-winning programs, including a tech initiative that broke funding and award records.
“From MedTech to BlueTech, the Michigan SBDC Tech Team is poised to help Michigan small businesses succeed across sectors,” said J.D. Collins, Michigan SBDC executive director and chief executive officer. “We have great expectations for the impact Shruti and Joe bring to the ecosystem, and we are incredibly grateful to the Michigan Economic Development Corporation for its support.”
Hosted on a statewide level by Grand Valley State University’s Seidman College of Business, the Michigan SBDC provides no-cost consulting, business education, market research and technology commercialization to new and existing businesses throughout Michigan’s 83 counties. Michiganders looking to start or grow a business can connect to free export services, market research, cybersecurity resources and business education through the SBDC.
Dr. Shruti Bagla will support the rapidly expanding health sector in Michigan, targeting Detroit and neighboring Ontario, with the aim of bolstering the region's reputation as a major hub for medical innovation. She will assist with medical startups in locating and accessing the specialized resources needed to thrive in a highly competitive market with uniquely lengthy timelines for success. One of her key priorities will be to enhance funding submissions in this cost-intensive sector where delays can significantly impede startup growth.
Bagla is a dynamic venture professional with deep expertise in commercializing advanced technologies and driving growth in the high-tech life sciences sector. She brings a unique blend of scientific rigor and executive leadership to the Michigan SBDC Tech Team, where she supports startups across growth stages. With a proven track record of evaluating startups, conducting due diligence, and scaling healthcare innovations — including medical devices, tech-enabled care delivery, and life science tools — Bagla has made a significant impact both within early-stage ventures and multi-billion-dollar healthcare systems.
Bagla holds a Ph.D. in molecular biology and genetics from Wayne State University, where she studied epilepsy and later in pediatric hematology/oncology. Currently, she is wrapping up her executive masters of business administration at the University of Michigan’s Ross School of Business.
Joe Carr will focus on positioning Michigan as a leader in freshwater innovation by supporting funding submissions and fostering strategic collaborations that drive technology development in rural areas and universities. One of his key responsibilities will be to engage stakeholders in the sector to create a shared vision and collaborate with advocacy groups and state agencies to tackle common challenges.
Carr has a successful track record in fostering economic growth and entrepreneurship, with extensive experience in launching and scaling successful businesses, coupled with a deep understanding of community needs. His unique qualifications have helped clients create and retain nearly 700 jobs, attract more than $56 million in investment, and launch more than 120 new companies. Carr has led multiple award-winning programs, including a tech initiative that broke funding and award records.
“From MedTech to BlueTech, the Michigan SBDC Tech Team is poised to help Michigan small businesses succeed across sectors,” said J.D. Collins, Michigan SBDC executive director and chief executive officer. “We have great expectations for the impact Shruti and Joe bring to the ecosystem, and we are incredibly grateful to the Michigan Economic Development Corporation for its support.”
Hosted on a statewide level by Grand Valley State University’s Seidman College of Business, the Michigan SBDC provides no-cost consulting, business education, market research and technology commercialization to new and existing businesses throughout Michigan’s 83 counties. Michiganders looking to start or grow a business can connect to free export services, market research, cybersecurity resources and business education through the SBDC.
