On Aug. 6, Nareit’s Public Non-listed REIT (PNLR) Council submitted comments to the Securities and Exchange Commission (SEC) regarding its proposed Regulation Best Interest (Reg BI). The PNLR Council commended the SEC for grounding the Reg. BI Proposal in its existing disclosure framework, which has well-served retail investors for more than 80 years.
The council also expressed strong support for the principles-based approach underlying the Reg BI Proposal, which it believes is likely to best promote circumstances enabling retail investors to make informed choices about the type of account and type of financial product that best serves their needs.
Contact: Victoria Rostow (VRostow@nareit.com).