ADISA’s Grady Outlines DOL Fiduciary Rule’s Unintended Consequences: John Grady, co-chair, ADISA Legislative & Regulatory Committee, writes on The DI Wire about DOL’s final rule raising significant concerns that go far beyond the initial concerns expressed during the rulemaking process, and in our view may have

major unintended consequences.

Future of NAV REITs After Starwood’s Redemption Cap: Urban Land Institute reports that Barry Sternlicht capped investors’ ability to exit his $10 billion real estate fund, unsettling investors and drawing media criticism as a failure to provide promised liquidity. However, ADISA co-chair John Grady says criticism of redemption caps stems from a misunderstanding of the nature of non-traded

REITs.

ADISA President Jade Miller Honored: ADISA president Jade Miller, Bourne Financial Group, has been named to GlobeSt.com’s Women of Influence Class of 2024! This award recognizes a growing number of female CRE professionals for

their remarkable achievements. Congratulations, Jade!

Why Alts Can Be Part of Your Playbook: Connect Money interviewed ADISA president Jade Miller on the robust investor interest in the alternative assets space, along with the importance of investor education, her decision to get into alternative investing, and how the current market environment compares with other periods of

dislocation, among other topics.

IRS Sets Final Rule for Inherited IRA Distributions: ThinkAdvisor reports that beneficiaries of retirement account owners who died after starting to take distributions must continue taking the distributions annually, the IRS said Thursday

in final regulations on required minimum distributions.

Appeals Court Orders DOL ESG Rule Reconsideration: Pensions & Investments reports that a federal appeals court last week directed a lower court to reconsider a lawsuit challenging a Department of Labor rule that permits retirement plan fiduciaries to consider environmental, social and governance factors when selecting

investments.

DOL Sets Up Online Filing for Abandoned Benefit Accounts: PlanAdviser reports that the DOL has launched an online system for qualified plan termination administrators to “more efficiently” submit abandoned account information for

benefits, including 401(k)s.

Spot Ethereum ETFs Approved By SEC: Financial Times reports that the SEC has approved the first spot Ethereum exchange-traded funds, marking a significant milestone for cryptocurrency advocates and investors.

benefits, including 401(k)s.

SEC Won’t Appeal Court’s Private Fund Rule Ruling: Pensions & Investments reports that the SEC elected not to appeal a federal appeals court’s decision striking down an agency rule that required increased disclosure from private fund advisers and prohibited certain fee arrangements.

benefits, including 401(k)s.

Alts Fundraising Totals $57 Billion Thru June: The DI Wire reports that alternative investment fundraising totaled nearly $57.4 billion through June led by non-traded business development companies at an estimated $18 billion, interval funds at $13.6 billion and other private placements, including infrastructure and

private equity offerings, at $10.3 billion.

Competing Court Rulings Issued on FTC Non-Compete Rule: PlanAdviser reports that there are now two differing court decisions on the Federal Trade Commission’s ban on non-compete contracts for employees, currently scheduled to

take effect on Sept. 4.

House Government Funding Plan Crumbling: The Hill reports that House Republicans’ ambitious hopes of passing their annual government funding bills by next week are quickly crumbling as a tight schedule and intraparty rifts threaten

efforts to approve their spending blueprints for 2025.