Proposed Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128

2 organizations filed 2 public comments on Proposed Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128, at the Employee Benefits Security Administration. The comment window closed 938d ago.

Abstract

In connection with its proposal to update its regulation defining a “fiduciary,” the Department of Labor is proposing to update five prohibited transaction exemptions (PTEs 75-1, 77-4, 80-83, 83-1, and 86-128) that currently permit fiduciaries to receive compensation otherwise prohibited by law. The proposed amendments would remove fiduciary investment advice from the covered transactions in each exemption. Fiduciaries looking to receive compensation for investment advice would instead have to rely on PTE 2020-02 or PTE 84-24.

Commenters (2)

• American Bankers Associationtrade assoc.

  1 filing · confidence 97%
• National Federation of Independent Businesstrade assoc.

  1 filing · confidence 97%