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

Activity

American Bankers Association filed 1 comment on this docket between Jan 5, 2024 and Jan 5, 2024. 1 other organizations filed here. The comment window closed 938d ago.

What American Bankers Association filed (1)

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.

• American Bankers AssociationTHIS ORG

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

  1 filing · confidence 97%