07/30/2018
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On July 25, Nareit submitted comments to the SEC on its draft strategic plan for fiscal years 2018 through 2022 (the Draft Strategic Plan). Nareit's comment strongly endorsed the SEC’s “continued focus on the long-term interests of Main Street investors” and included several suggestions to improve disclosures and other corporate communications for Main Street investors in REITs.
Noting that approximately 80 million Americans invest in REIT stocks through their retirement accounts or other investment funds, Nareit suggested several ways in which REIT disclosures could be streamlined and made more useful to retail investors. Nareit also suggested that SEC undertake revision of some rules governing the proxy process, including revision of the rules governing the resubmission of shareholder proposals that have not received a majority of votes and the current framework under which proxy advisory firms operate.
Contact: Christopher T. Drula and Victoria P. Rostow.