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RIN: 1210-AB17
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Publication ID: Spring 2008
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Title: Statutory Exemption for Cross-Trading of Securities
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Abstract: As directed by section 611(g)(3) of Pub. L. 109-280, this rule implements the content requirements for the written cross-trading policies and procedures required under section 408(b)(19)(H) of the Employee Retirement Income Security Act of 1974. This section exempts the purchase and sale of a security between an employee benefit plan and any other account managed by the same investment manager if certain conditions are satisfied. Among other requirements, section 408(b)(19)(H) stipulates that the investment manager must adopt, and effect cross trades in accordance with, written policies and procedures that are fair and equitable to all accounts participating in the cross-trading program.
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Agency: Department of Labor(DOL)
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Priority: Other Significant
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RIN Status:
Previously published in the Unified Agenda
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Agenda Stage of Rulemaking:
Final Rule Stage
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Major:
No
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Unfunded Mandates:
No
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CFR Citation: 29 CFR 2550.408b-19
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Legal Authority: 29 USC 1108(b)(19)(H); ERISA sec 408(b)(19)(H); PL 109-280, sec 611(g)(3), Pension Protection Act of 2006
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Legal Deadline:
| Action |
Source |
Description |
Date |
| Final |
Statutory |
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02/13/2007 |
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Timetable:
| Action |
Date |
FR Cite |
| Interim Final Rule |
02/12/2007 |
72 FR 6473 |
| Interim Final Rule Comment Period End |
04/13/2007 |
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| Interim Final Rule Effective |
04/13/2007 |
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| Final Action |
06/00/2008 |
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Regulatory Flexibility Analysis Required:
No
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Government Levels Affected:
None
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Small Entities Affected:
No
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Federalism:
No
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Included in the Regulatory Plan:
No
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RIN Data Printed in the FR:
No
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Agency Contact:
Brian Buyniski
Pension Law Specialist
Department of Labor
Employee Benefits Security Administration
200 Constitution Avenue NW., FP Building, Room N5649,
Washington, DC 20210
Phone:202 693-8540
Fax:202 219-0204
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