NASAA’s Board of Directors has approved the formation of the new Advisory Committee to the NASAA Direct Participation Programs Policy Project Group (the “DPP Advisory Committee”). The DPP Advisory Committee will provide advice, assistance, and recommendations on issues and developing trends regarding direct participation programs (“DPPs”) directly to NASAA’s Direct Participation Programs Policy Project Group (“DPP Project Group”). Applications to join the DPP Advisory Committee are now open.
Interested persons with professional experience or technical expertise related to non-traded Real Estate Investment Trusts (“REITs”), business development companies (“BDCs”), and other types of DPPs (including attorneys with experience in DPP offerings, current or former executives of DPP issuers, members of advocacy groups for DPP issuers or DPP investors, and financial analysts, economists or academics who have researched DPP offerings) are invited to apply to join the committee. The DPP Project Group has sought the formation of the DPP Advisory Committee, and it is expected that the committee will advise the DPP Project Group on NASAA statements of policy related to DPPs. Members of the DPP Advisory Committee will serve one-year terms in an unpaid capacity.
To apply to join the DPP Advisory Committee, please complete this application form and email it, along with your professional resume or curriculum vitae, to applications@nasaa.org. Please include “DPP Advisory Committee Application” in the Subject line of your email. Please ensure your application materials reflect your relevant experience and expertise related to DPPs. In addition, please ensure your application materials disclose (a) your current involvement (membership and leadership positions) in bar committees, trade associations and other organizations involved in DPPs and (b) if you are a registered lobbyist with the federal government or with any state. If you have questions about the new DPP Advisory Committee or the application process, please email applications@nasaa.org and someone from NASAA will get back to you. Applications must be received no later than March 20, 2026.
The DPP Project Group anticipates making appointments to the DPP Advisory Committee in April, with the committee to begin work and hold an inaugural meeting this Spring. Appointments to the committee will be valid through December 31, 2026, whereupon anyone seeking to remain on the committee in 2027 can apply for an additional one-year term.
