A decline in sales of non-traded real estate investment trusts (REITS) is expected to continue in 2024, according to InvestmentNews. A non-traded REIT is a private real estate investment vehicle not listed or traded on a public exchange. Non-traded REITs are designed...
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Bill introduced in Congress to prohibit mandatory arbitration agreements
A bill known as The Investor Choice Act has been proposed in Congress in an effort to prohibit mandatory arbitration agreements in the financial industry, Financial Advisor reports. The legislation, introduced by Rep. Bill Foster (D-Ill.) and Sen. Jeff Merkley...
DOL holds hearing on its new rule updating definition of fiduciary
The Department of Labor held a two-day hearing last week to gather input on its new proposed fiduciary rule, according to ThinkAdvisor. The proposal is called the Retirement Security Rule: Definition of an Investment Advice Fiduciary. It would update the definition of...
Bank executives speak out against tighter capital rules at Senate hearing
Eight top US banking executives spoke out against proposed new measures tightening capital requirements at a hearing on Capitol Hill recently, according to an AdvisorHub report. Under a plan by the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the...
Labor Department will not extend public comment period on new fiduciary rule
The 60-day public comment period for feedback on the U.S. Department of Labor's new fiduciary rule is not going to be extended, Wealth Management reports. The department's proposed rule would update the definition of an investment advice fiduciary under the Employee...