The executive committee of NAREIT’s Public Non-listed REIT (PNLR) Council filed comments on July 21 with the Department of Labor regarding its fiduciary rule and prohibited transaction exemptions.
The council said it remains concerned that the final fiduciary rule and prohibited transaction exemptions will limit access to the full range of retirement investment products and services and will lead to costly litigation. The council also expressed support for delaying the applicability date of certain provisions in the fiduciary rule and its accompanying exemptions.
The comments were made in response to the Labor Department’s Request for Information Regarding the Fiduciary Rule and Prohibited Transaction Exemptions, which was published in the Federal Register on July 6.
(Contact: Victoria Rostow at email@example.com)