Prohibited Transaction Exemption (PTE) 2007-05; Exemption
Application No. D-11370; Amendment to PTE 2000-58, 65 FR 67765
(November 13, 2000) and PTE 2002-41, 67 FR 54487 (August 22, 2002)
[04/04/2007]
Volume 72, Number 64, Page 16385
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
Prohibited Transaction Exemption (PTE) 2007-05; Exemption
Application No. D-11370; Amendment to PTE 2000-58, 65 FR 67765
(November 13, 2000) and PTE 2002-41, 67 FR 54487 (August 22, 2002)
Involving Bear, Stearns & Co. Inc., Prudential Securities Incorporated
et al. To Add Dominion Bond Rating Service Limited and Dominion Bond
Rating Service, Inc. to the Definition of ``Rating Agency''
AGENCY: Employee Benefits Security Administration, U.S. Department of
Labor (the Department).
ACTION: Notice of technical correction.
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On March 20, 2007, the Department published PTE 2007-05 in the
Federal Register at 72 FR 13130. PTE 2007-05 expands the definition of
``Rating Agency'' in section III.X of the Underwriter Exemptions to
include Dominion Bond Rating Service Limited and Dominion Bond Rating
Service, Inc. The Underwriter Exemptions are individual exemptions that
provide relief for the origination and operation of certain asset pool
investment trusts and the acquisition, holding and disposition by
employee benefit plans of certain asset-backed, pass-through
certificates representing undivided interests in those investment
trusts, and also provided the same individual exemptive relief to:
Deutsche Bank A.G., New York Branch and Deutsche Morgan Grenfell/C.J.
Lawrence Inc., Final Authorization Number (FAN) 97-03E (December 9,
1996); Credit Lyonnais Securities (USA) Inc., FAN 97-21E (September 10,
1997); ABN AMRO Inc., FAN 98-08E (April 27, 1998); Ironwood Capital
Partners Ltd., FAN 99-31E (December 20, 1999) (supersedes FAN 97-02E
(November 25, 1996)); William J. Mayer Securities LLC, FAN 01-25E
(October 15, 2001); Raymond James & Associates Inc. & Raymond James
Financial Inc., FAN 03-07E ( June 14, 2003); WAMU Capital Corporation,
FAN 03-14E (August 24, 2003); and Terwin Capital LLC, FAN 04-16E
(August 18, 2004); which received the approval of the Department to
engage in transactions substantially similar to the transactions
described in the Underwriter Exemptions pursuant to PTE 96-62, 61 FR
39988 (July 31, 1996).
In order to correct an inadvertent omission, the Department is
adopting a technical correction to the final amendment. As corrected,
at page 13130 of the notice granting the final amendment, the following
organization and Final Authorization Number (FAN) is included in the
list of organizations the Department is also granting individual
exemptive relief for, after the phrase ``(August 24, 2003);''
``Barclays Bank PLC & Barclays Capital Inc., FAN 04-03E (February 4,
2004);''.
Subsequent to publication of the final amendment, the Department
was informed that, effective January 22, 2007, Dominion Bond Rating
Service Limited changed its name to ``DBRS Limited,'' and Dominion Bond
Rating Service, Inc. changed its name to ``DBRS, Inc.'' These are name
changes only. There has been no change in the corporate structure or
business activities of DBRS Limited and DBRS, Inc.
FOR FURTHER INFORMATION CONTACT: Ms. Wendy McColough of the Department
at (202) 693-8553. (This is not a toll-free number.)
Signed at Washington, DC, this 29th day of March, 2007.
Ivan L. Strasfeld,
Director of Exemption Determinations, Employee Benefits Security
Administration, U.S. Department of Labor.
[FR Doc. E7-6216 Filed 4-3-07; 8:45 am]
BILLING CODE 4510-29-P
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