The proposed class exemption was requested in part in an application filed by the Securities Industry Association (SIA) on behalf of its members, by letters to the Department dated November 29, 1982, April 22, 1983, and July 23, 1984.
Notice was also given of the pendency before the Department of the proposed revocation of PTE 79-1 and PTE 84-46.
Promotee definition code#
Supplementary Information: On January 24, 1985, notice was published in the Federal Register (50 FR 3427) of the pendency before the Department of Labor (the Department) of a proposed class exemption to replace PTE 79-1 ( 1) and PTE 84-46 ( 2) which exempted certain transactions from the restrictions of section 406 of the Employee Retirement Income Security Act of 1974 (ERISA or the Act) and from the taxes imposed by section 4975(a) and (b) of the Internal Revenue Code (the Code) by reason of Code section 4975(c)(1)(A) through (F) ( 3).
Department of Labor, Washington, DC 20210, (202) 523-9595 (not a toll-free number) or Mark Greenstein, Office of Regulations and Interpretations, Pension and Welfare Benefits Administration, (202) 523-8671 (not a toll-free number). Plan Benefits Security Division, Office of the Solicitor, U.S. It affects participants and beneficiaries of, and fiduciaries with respect to, employee benefit plans which invest in securities, and other persons who engage in the described transactions.Įffective Date: The later of December 18, 1986, or the date on which the Office of Management and Budget approves the information collection requests contained in this exemption under the Paperwork Reduction Act of 1980.įor Further Information Contact: Daniel J. The exemption will replace Prohibited Transaction Exemption 79-1 and Prohibited Transaction Exemption 84-46. The exemption also allows sponsors of pooled separate accounts and other pooled investment funds to use their affiliates to effect or execute securities transactions for such accounts when certain conditions are met.
Summary: This document contains an exemption which allows persons who serve as fiduciaries for employee benefit plans to effect or execute securities transactions under certain circumstances. Class Exemption for Securities Transactions Involving Employee Benefit Plans and Broker-Dealers
0 kommentar(er)
