WASHINGTON, D.C. – (August 4, 2022) – On July 12, 2022, NASAA released a Notice Requesting Public Comment on Proposed Revisions to NASAA Statement of Policy Regarding Real Estate Investment Trusts. The original deadline for submitting public comments was August 11, 2022. NASAA’s Corporation Finance Section Committee received a letter from a group of industry trade associations on Tuesday, August 2, requesting a 30-day extension to the public comment period. The Committee met with one of those industry associations on Wednesday, August 3, who offered compelling reasons for its request. NASAA’s Corporation Finance Section Committee has decided to grant the request and is extending the public comment deadline for all commenters to Monday, September 12, 2022.
“This proposal is six years in the making following the release of the first iteration back in 2016,” said NASAA Corporation Finance Section Committee Chair Andrea Seidt who also serves as Ohio Securities Commissioner. “NASAA’s existing investor income and net worth standards have not been adjusted for inflation in over 15 years. If one additional month gives industry stakeholders the time they need to fully frame their thinking and provide data that is responsive to NASAA’s proposal, the Committee is more than happy to grant the extension.”
The Committee thanks everyone who has submitted a comment to date and encourages all interested parties to submit their comments on or before the new deadline of September 12. An updated version of the Request for Public Comment that has the new deadline listed can be found on NASAA’s website.
Organized in 1919, the North American Securities Administrators Association (NASAA) is the oldest international organization devoted to investor protection. NASAA is a voluntary association whose membership consists of the securities regulators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, the 13 provincial and territorial securities regulators in Canada, and the securities regulator in México. For more information, visit www.nasaa.org.
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