The Securities Industry and Financial Markets Association today released a draft of revised guidelines for the delivery of offering materials for the securities of Government-Sponsored Enterprises (such as Fannie Mae and Freddie Mac).

SIFMA says that the revisions will move the guidelines to an “access=delivery” model by permitting electronic delivery of documentation for GSE securities.

“These changes will update the guidelines and make the delivery process more efficient and cost effective,” said Robert Toomey, vice president and assistant general counsel with SIFMA. “Allowing for electronic delivery will make important information related to GSE securities available in a timely manner while also resulting in significant dollar savings for both GSEs and dealers.”

The draft represents the first changes to the guidelines since 1993 and details five steps for delivery of offering materials relating to GSE securities. All firms participating in the distribution of these securities are expected to follow the guidelines.

The deadline for comments on the exposure draft is January 31.