NAREIT Reiterates Comments on Fiduciary Definition, Best Interest Contract Exemption

The NAREIT Public Non-Listed REIT (PNLR) Council filed comments on Sept. 25 regarding the Department of Labor’s proposal to expand the definition of fiduciary. The PNLR Council also weighed in on the Best Interest Contract Exemption.

The PNLR Council reiterated that while NAREIT shares the goal of improving the investment advice provided to retirement plans and their participants, the DOL should take care not to limit the range of products and services available to investors.

The PNLR Council previously submitted comments to the DOL on the issues in July.

(Contact: Bonnie Gottlieb at bgottlieb@nareit.com)

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