FINRA tells brokers to clarify risks of non-traded REITS

05/3/2013 | Wall Street Journal, The

The Financial Industry Regulatory Authority says some brokers are misleading clients about the potential benefits of non-traded real estate investment trusts. FINRA officials say that some materials emphasize investment income but don't make it clear that the investor's principal may be tapped. FINRA has warned brokers not to use words such as "yield" and to spell out rules on redeeming investments.

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