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After several years of haggling between regulators and the brokerage industry, a new client account statement rule that will give greater transparency to a REIT's value will take effect in April.
The Financial Industry Regulatory Authority Inc. created the rule to give a more accurate picture of REITs' costs as well as to lower initial costs for investors.
The new Finra account statement rule affects not only REITs but other illiquid investment programs.
With commissions in flux because of the new rules, will brokers continue to sell large amounts of nontraded REITs or will they move on to something else?