Non-traded REITs Tinker with Liquidity Features: WealthManagement reports that after facing increased redemption requests for over a year, the net asset value REIT industry is currently testing the limits of its liquidity feature, a process that will likely take at least another 12 months, says Kevin T. Gannon, chairman and CEO of

investment banking firm Robert A. Stanger & Company.

Texting Sweep Lawsuit Filed Against SEC: ThinkAdvisor reports that a financial trade group is suing the Securities and Exchange Commission for failing to produce documents under the Freedom of Information Act regarding its off-channel

communications sweep.

FINRA Warns About Data Breach Rules Taking Effect: InvestmentNews reports that the Financial Industry Regulatory Authority is calling on all its member firms to take heed and take action as new SEC rules that stiffen expectations around data

breaches take effect.

Speedy Decision Requested from DOL Lawsuit Judge: Financial Advisor Magazine reports that the trade group that's suing to block the DOL's fiduciary rule 

is asking a federal judge to make a speedy decision on the matter.

Fidelity Growing its Alts Platform Slowly: Pensions & Investments reports that about seven years after Fidelity Investments made building out alternatives capabilities a priority for the $4.58 trillion firm, it’s assets under management in alternative strategies have a combined AUM of more than $14 billion, up from $2

billion in 2019.

Report Raises SEC Shareholder Proposal Process Concerns: Fox Business reports that the SEC’s shareholder proposal approval process has been disproportionately pushing U.S. corporations' policies toward left-wing activism, according to a new report from Consumers' Research that published audits from

2018-2022.

SEC Warns Against False AI Claims: Risk.net reports that the SEC has warned firms not to falsely advertise the use of artificial intelligence in their investment products, adding those that engage in ‘AI washing’ may face enforcement

action.

Treasury Secretary Warns of AI Threat to Financial Industry: The Hill reports that Treasury Secretary Janet Yellen warned last week that AI could pose “significant risks” to the financial system and announced plans to launch a formal public request for information about the “current uses, opportunities, and risks of AI

in the financial services sector.”

CBO Says Federal Budget Deficit Soaring: Axios reports that the U.S. budget deficit, up 5% in just May, is expected to climb over the next 10 years with higher interest payments set to account for a historic share of government spending, the

Congressional Budget Office said on Wednesday.

ESG-Focused Pension Funds Accused of Antitrust Violations: Pensions & Investments reports that House Republicans are accusing institutional investors that consider environmental, social and governance factors of violating antitrust

laws.