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ASA Sends Comment Letter to NASAA on REIT Proposal


WASHINGTON, D.C. – Today, the American Securities Association (ASA) sent a letter to the North American Securities Administrators Association (NASAA) regarding proposed revisions to NASAA’s Statement of Policy Regarding Real Estate Investment Trusts (REITs).

“NASAA’s proposal would unjustifiably restrict investor choice, harm small businesses and interfere with economic recovery,” ASA CEO Chris Iacovella said. “Instead of protecting investors, this proposal prevents investors and their financial advisors from accessing alternatives to diversify portfolios and reduce risk.”

After extension requests from the financial alternatives sector and a widespread group of trade associations, NASAA extended the 30-day comment period from August 11 to September 12, 2022.

“We appreciate NASAA extending its comment period on its REIT guidance but respectfully urge for a withdrawal of this proposal,”Iacovella said.

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