2011-08-31 — nationalmortgagenews.com
The Securities and Exchange Commission believes that mortgage real estate investment trusts are beginning to look more like mutual funds and has initiated a review of their exemption from the Investment Company Act. At a Wednesday meeting, the commission agreed to solicit public comment in similarities and differences between mortgage REITs and mutual funds.
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SEC chairman Mary Schapiro noted that the commission has not reviewed the status of mortgage REITS in relation to the ICA since 1960.
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