Best Practices Committee Recommendation is Another Step in the Right Direction for the Industry
Chicago, IL (PRWEB) June 26, 2014
The Association to Invest in the USA (IIUSA), the national not-for- profit industry trade association for the EB-5 Regional Center Program (the “Program”), last week approved its 2014 Best Practices Committee recommendations. The recommendations issued set high standards for IIUSA’s members in an effort to promote responsible, professional and ethical behavior and reinforce confidence in the EB-5 Program and EB-5 Regional Center industry among all stakeholders.
The newly passed guidelines include updates to the IIUSA Code of Ethics and Code of Ethics Enforcement as well as a new Code of Ethics Complaint Form, and echo IIUSA’s continuing commitment to industry best practices and self-regulation.
“This new set of recommendations is yet another step in the right direction for the EB-5 program,” said IIUSA Executive Director Peter D. Joseph. “Proper oversight, transparency, compliance with – and enforcement of – all applicable laws and regulations are essential to maintain the confidence of all stakeholders and ensure that the program continues bring capital and job creation to American communities. IIUSA is proud to lead the EB-5 Regional Center industry by setting high standards of integrity and professional excellence.”
The Enforcement Procedures are used to help ensure compliance with the Code and Ethics Standards, which represent the values and principles that members have identified as important to maintaining marketplace integrity and confidence. The voluntary nature of joining IIUSA commits members to adherence to the Code and Ethics Standards and cooperation with its Enforcement Procedures by both the business entity and all individuals employed thereby.
IIUSA has a proven record of working cooperatively with USCIS and other regulatory agencies to strengthen the program through effective enforcement of anti-fraud, securities and immigration law. For example, IIUSA recently filed an amicus brief supporting SEC action to stop a Regional Center and developer from making misleading claims about investment opportunities. And, the association has worked with leading members of Congress to develop legislation that strengthens government enforcement capabilities and oversight responsibilities.
About IIUSA
Founded in 2005, the Association to Invest In the USA (IIUSA®) is the national membership-based 501(c)(6) not-for-profit industry trade association for the EB-5 Regional Center Program (the “Program”). IIUSA’s primary mission is to make the Program a permanent and successful part of 21st century U.S. economic development policy. For more information, visit iiusa.org.
lposton(at)prismpublicaffairs.com
