{"id":1485,"date":"2014-07-17T19:20:22","date_gmt":"2014-07-17T19:20:22","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/07\/finra_wants_to_delay_implement"},"modified":"2022-03-11T13:24:01","modified_gmt":"2022-03-11T19:24:01","slug":"finra-wants-to-delay-implement","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-wants-to-delay-implement\/","title":{"rendered":"FINRA Wants To Delay Implementing Rule Impacting Nontraded REIT Customers’ Statements"},"content":{"rendered":"

\t\t\t\tThe Financial Industry Regulatory Authority wants the Securities and Exchange Commission to grant a delay in the implementation of proposed changes to rule 2340, which impacts customer account statements. The self-regulatory organization had originally asked for the modifications to go into effect six months after the SEC approves the rule change. Now, FINRA wants to give nontraded REIT sponsors and brokerage firms 18 months to adjust to the revised guidelines. <\/p>\n

Nontraded REITs are currently not required to show an estimated per-share valuation until 18 months after the sponsors cease to raise funds. Under the proposed rule change, broker-dealer client account statements would eliminate the existing practice of listing at $10 the value, for every share, of a nontraded REIT. This is usually the price that registered representatives sell them at. <\/p>\n

The rule change would factor the different commissions and fees that dealer managers and brokers get. It would lower the price per share for every private placement or nontraded REIT found on the account statement of a customer.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority wants the Securities and Exchange Commission to grant a delay in the implementation of proposed changes to rule 2340, which impacts customer account statements. The self-regulatory organization had originally asked for the modifications to go into effect six months after the SEC approves the rule change. Now, FINRA wants to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3774,3739,4014],"tags":[],"class_list":["post-1485","post","type-post","status-publish","format-standard","hentry","category-broker-dealers","category-finra","category-non-traded-reits"],"yoast_head":"\nFINRA Wants To Delay Implementing Rule Impacting Nontraded REIT Customers' Statements — Investor Lawyers Blog — July 17, 2014<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority wants the Securities and Exchange Commission to grant a delay in the implementation of proposed changes to — July 17, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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