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2018-02-21
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Proposed Amendment to Prohibited Transaction Exemption (PTE) 75-1, Part V, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Employee Benefit Plans and Certain Broker-Dealers, Reporting Dealers and Banks
Part III
Proposed Rules
D09002ee1bdc3281a
D09002ee1bdc328e4
United States
Department of Labor
originator
org
United States Government Agency or Subagency
United States
Employee Benefits Security Administration
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org
United States Government Agency or Subagency
This document contains a notice of pendency before the Department of Labor of a proposed amendment to PTE 75-1, Part V, a class exemption from certain prohibited transactions provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (the Code). The provisions at issue generally prohibit fiduciaries of employee benefit plans and individual retirement accounts (IRAs), from lending money or otherwise extending credit to the plans and IRAs and receiving compensation in return. PTE 75-1, Part V, permits the extension of credit to a plan or IRA by a broker-dealer in connection with the purchase or sale of securities; however, it does not permit the receipt of compensation for an extension of credit by broker-dealers that are fiduciaries with respect to the assets involved in the transaction. The amendment proposed in this notice would permit investment advice fiduciaries to receive compensation when they extend credit to plans and IRAs to avoid a failed securities transaction. The proposed amendment would affect participants and beneficiaries of plans, IRA owners, and fiduciaries with respect to such plans and IRAs.
80 FR 22004
https://www.govinfo.gov/app/details/FR-2015-04-20/2015-08836
2015-08836
fr20ap15-24
4510-29-P
Application Number D-11687
https://www.govinfo.gov/app/details/FR-2015-04-20/2015-08836
https://www.govinfo.gov/content/pkg/FR-2015-04-20/html/2015-08836.htm
https://www.govinfo.gov/content/pkg/FR-2015-04-20/pdf/2015-08836.pdf
7 p.
22004
22010
80 FR 22004
Code of Federal Regulations
Title 29 Part 2550
29 CFR Part 2550
Proposed Amendment to Prohibited Transaction Exemption (PTE) 75-1, Part V, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Employee Benefit Plans and Certain Broker-Dealers, Reporting Dealers and Banks; Federal Register Vol. 80, Issue
PRORULE
2015-08836
III
DEPARTMENT OF LABOR
Employee Benefits Security Administration
2015-07-06
Application Number D-11687
4510-29-P
2015-08836
Notice of Proposed Amendment to PTE 75-1, Part V.
This document contains a notice of pendency before the Department of Labor of a proposed amendment to PTE 75-1, Part V, a class exemption from certain prohibited transactions provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (the Code). The provisions at issue generally prohibit fiduciaries of employee benefit plans and individual retirement accounts (IRAs), from lending money or otherwise extending credit to the plans and IRAs and receiving compensation in return. PTE 75-1, Part V, permits the extension of credit to a plan or IRA by a broker-dealer in connection with the purchase or sale of securities; however, it does not permit the receipt of compensation for an extension of credit by broker-dealers that are fiduciaries with respect to the assets involved in the transaction. The amendment proposed in this notice would permit investment advice fiduciaries to receive compensation when they extend credit to plans and IRAs to avoid a failed securities transaction. The proposed amendment would affect participants and beneficiaries of plans, IRA owners, and fiduciaries with respect to such plans and IRAs.
Comments: Written comments concerning the proposed class exemption must be received by the Department on or before July 6, 2015.
Susan Wilker, Office of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor, (202) 693-8824 (this is not a toll-free number).
Proposed Amendment to Prohibited Transaction Exemptions, Exemptions from Prohibitions Respecting Certain Classes of Transactions Involving Employee Benefit Plans and Certain Broker-Dealers, Reporting Dealers and Banks
,
e-OED@dol.gov
http://www.RegInfo.gov
http://www.regulations.gov
www.dol.gov/ebsa
www.regulations.gov
Federal Register
Vol. 80, no. 75
Office of the Federal Register, National Archives and Records Administration
2015-04-20
continuing
daily
deposited
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457 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2015-04-20
P0b002ee19884b995
0097-6326
0042-1219
0364-1406
769-004-00000-9
000582072
f:fr20ap15
https://www.govinfo.gov/app/details/FR-2015-04-20
https://www.govinfo.gov/content/pkg/FR-2015-04-20/pdf/FR-2015-04-20.pdf
https://www.govinfo.gov/content/pkg/FR-2015-04-20/xml/FR-2015-04-20.xml
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2018-02-21
2023-04-29
FR-2015-04-20
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