INDIANAPOLIS, June 5, 2019 /PRNewswire/ -- ADISA, the nation's largest trade association for the retail alternative investment space, issued the following comment today in response to the U.S. Securities & Exchange Commission's vote to approve the final version of Regulation Best Interest.
ADISA Executive Director John Harrison said, "ADISA applauds the SEC's reasonable and responsible effort to foster greater investor protection while allowing for robust competition among broker-dealers and investment advisors. We believe Reg. BI will encourage greater investor choice and access to a variety of investment advice that will empower all investors to pursue their retirement and savings goals."
Harrison added, "There is much work behind the scene at ADISA to help influence the final provisions of this rule as it is rolled out and we will work hard to get the needed information out to our members as they implement this standard. We thank our L & R leadership team of Greg Mausz, Larry Sullivan, John Grady, Catherine Bowman, and Tom Rosenfield for their diligent work on behalf of ADISA and the industry."
The Alternative & Direct Investment Securities Association is the nation's largest trade association representing the non‐traded alternative investment space. ADISA's members are typically involved in nontraded real estate investment trusts, business development companies, master limited partnerships and private and public funds (LPs/LLCs), 1031 exchange programs (DSTs/TICs), energy and oil and gas interests, equipment leasing programs, or other alternative and direct investment offerings. The association was founded in 2003 and has approximately 4,000 members who are key decision makers, representing more than 220,000 professionals throughout the nation – including sponsor members who have raised in excess of $200 billion in equity and serve more than 1 million investors.
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