Regulatory Notice 13-18

FINRA Provides Guidance on Communications With the Public Concerning Unlisted Real Estate Investment Programs

FINRA is issuing this Notice to provide guidance to firms on communications with the public concerning unlisted real estate investment programs, including unlisted real estate investment trusts (REITs) and unlisted direct participation programs (DPPs) that invest in real estate.

Questions concerning this Notice should be directed to:

  • Thomas A. Pappas, Vice President & Director, Advertising Regulation,  at (240) 386-4553; or
  • Amy C. Sochard, Director, Advertising Regulation, at (240) 386-4508.