FINRA Proposes Rule Change Relating to per Share Estimated Valuations for Unlisted DPP and REITS

FINRA filed with the SEC a proposed rule change to amend provisions addressing per share estimated valuations for unlisted direct participation programs ("DPP") and real estate investment trust ("REIT") securities.

FINRA proposed to amend NASD Rule 2340 ("Customer Account Statements") and FINRA Rule 2310 ("Direct Participation Program") to modify and expand (i) the requirements relating to the inclusion of per share estimated valuations and (ii) the requirements applicable to members' participation in a public offering of DPP or REIT securities.

See: Text of Proposed Rule Change.