SEC Approves FINRA-Proposed Rule Change Relating to Per Share Estimated Valuations for Unlisted DPP and REIT Securities (FINRA Reg. Notice 15-02)

The SEC approved FINRA-proposed amendments regarding per share estimated values for direct participation program ("DPP"), and unlisted real estate investment trust ("REIT") securities on account statements.

Specifically, the SEC approved amendments to NASD Rule 2340 ("Customer Account Statements") to modify the requirements relating to the inclusion of per share estimated values for DPP and REIT securities on account statements. Additionally, the SEC approved amendments to FINRA Rule 2310, which makes corresponding changes to the requirements applicable to members' participation in public offerings of DPP or REIT securities.

The amendments will become effective on April 11, 2016.