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Quick
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PTE 2006-06
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D-11201
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Final Exemption: 71 FR 20855 |
Proposed Exemption: 70 FR 12074 |
Abandoned Individual Account Plans - Permits a “qualified termination administrator” to select itself or an affiliate to provide services to an abandoned plan in connection with the termination of the plan; to pay itself or an affiliate fees for those services, and to pay itself for services provided prior to the plan’s deemed termination. Also permits the QTA to designate itself or an affiliate as provider of an individual retirement plan for distributions from abandoned plans to IRAs or other accounts maintained by the QTA resulting from a participant’s failure to provide direction and to pay itself fees in connection therewith.
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PTE 2004-07
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D-10659
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Final Exemption: 69 FR 23220 |
Proposed Exemption: 68 FR
33185
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Real Estate Investment Trusts - Permits the acquisition, holding or
sale of publicly traded shares of beneficial interest in a
real estate investment trust (REIT), that is structured
under state law as a business trust, by individual account
plans sponsored by the REIT or its affiliates.
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PTE 2002-12
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D-10851
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Final Exemption: 67 FR 6614
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Proposed Exemption: 64 FR 70057
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Cross-Trades of Securities -
Permits
cross-trades of securities among Index and Model Driven
Funds managed by investment managers, and among such Funds
and certain large accounts which engage such managers to
carry out a specific portfolio restructuring program or to
otherwise act as a “trading adviser” for such a
program.
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PTE 1998-54
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D-10078
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Final Exemption: 63 FR 63503
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Proposed Exemption: 62 FR 5051
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Foreign Exchange Transactions
Pursuant to Standing Instructions -
Supplements PTE 94-20, for transactions engaged in pursuant to standing
instructions between a bank or broker-dealer and a plan.
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PTE 1996-63
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D-10218
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Final Exemption:
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FR 40459
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Proposed Exemption: 61 FR 9199
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Restoration of Delinquent
Participant Contributions -
Provides exemptive relief for certain transactions involving the failure
to transmit participant contributions to pension plans where such
delinquent amounts are voluntarily restored to such plans with lost
earnings. This exemption is being
granted as part of the Department’s Pension Payback Program (the
Program), which is targeted at persons who failed to transfer participant
contributions to pension plans, including section 401(k) plans, within the
time frames mandated by the Department’s participant contribution
regulation, and thus violated Title I or ERISA. The exemption affects plans, participants and beneficiaries of
such plans and certain other persons engaging in such transactions.
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PTE 1996-62
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D-10031
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Final Exemption:
61 FR 39988 Adopted Amendment: 67 FR 44622 Clarification:
See PTE 2002-13
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Proposed Exemption: 60 FR 58376 Proposed Amendment: 67 FR 13019
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EXPRO -
Permits certain prospective transactions between
employee benefit plans and parties in interest where
such transactions are specifically authorized by the
Department and are subject to terms, conditions and
representations which are substantially similar to two
exemptions previously granted by the Department within
the 60 months prior to the application. The
Amendment: alternatively permits parties to rely on one
individual exemption granted within the 120 months prior
to the application and one transaction which received
authorization from the Department under PTE 96-62 within
the past 60 months.
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PTE 1996-23
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D-9602
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Final Exemption:
61 FR 15975
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Proposed Exemption: 60 FR 15597
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In-House Professional Asset
Managers -
Permits various transactions involving
employee benefit plans whose assets are managed by
in-house managers.
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PTE 1995-60
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D-9662
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Final Exemption:
60 FR 35925 Clarification: See PTE 2002-13
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Proposed Exemption: 59 FR 43134
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Insurance Company General Accounts
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Permits general relief for transactions between the
general account and parties in interest to plans that
are contract holders in the general account. It
also provides relief for a general account to acquire
and hold employer securities and employer real property.
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PTE 1994-71
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D-9484
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Final Exemption:
59 FR 51216 Correction: 59 FR 60837
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Proposed Exemption: 59 FR 27581
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Settlement Agreements -
Permits transactions authorized by a settlement
agreement resulting from an investigation of a plan.
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PTE 1994-20
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D-5700
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Final Exemption:
59 FR 8022 Clarification: See 1998-54
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Proposed Exemption: 56 FR 11757 Correction: 56 FR 33467
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Foreign Exchange (FX) Transactions
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Permits FX transactions between banks or
broker-dealers and plans.
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PTE
1993-2
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D-8243 & D-8323
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Final Exemption:
58 FR 3561
Replaced By: 1993-33,
58 FR 31053
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Proposed Exemption: 56 FR 8365
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IRA/KEOGH Plans -
Permits the receipt of certain services at reduced or no
cost by IRA/Keogh Plan beneficiary from a bank.
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PTE 1993-1
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D-4064
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Final Exemption:
58 FR 3567
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Proposed Exemption: 48 FR 4592
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IRA/KEOGH Plans -
Permits the
receipt of cash, consideration in connection with a
transaction involving an IRA or Keogh Plan.
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PTE 1992-6
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D-8337
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Final Exemption: 57 FR 5189 Adopted Amendment: 67 FR 56313
Correction: 57 FR 29938
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Proposed Exemption: 56 FR 31679 Proposed Amendment: 67 FR 15083
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Life Insurance Transfer Out -
Replaces and amends PTE 77-8 to include transactions between
plans and owner-employees. The 2002 Amendment:
permits transactions between plans and personal or
private trusts established by, or for the benefit of an
individual who is a participant in the plan and insured
under the policy, or by or for the benefit of one or
more relatives.
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PTE 1992-5
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D-8303
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Final Exemption:
57 FR 5019
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Proposed Exemption: 56 FR 31681
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Life Insurance Transfer In -
Replaces and amends PTE 77-7 to include transactions between
plans and owner-employees.
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PTE 1991-55
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D-7088
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Final Exemption: 56 FR 49209 Correction: 56 FR 50729
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Proposed Exemption: 53 FR 10169
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Purchase of American Eagle Coins -
Permits the purchase and sale by individual
retirement accounts (IRAs) of bullion coins in principal
transactions from or to broker dealer in such coins who
have an existing relationship with the IRA's so as to
make the transaction prohibited.
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PTE 1991-38
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D-8414
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Final Exemption: 56 FR 31966 Correction: 56 FR 59299 Clarification:
See PTE 2002-13
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Proposed Exemption: 56 FR 4856
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Bank Collective Investment Funds -
Amends and supercedes PTE 80-51 which permits
bank collective investment funds in which plans invest
to engage in certain transactions with parties in
interest and to hold employer securities or employer
real property. The Amendment: expands the percentage of
collective fund interest by a participating plan which
can qualify for the general exemptive relief. Bank
CIF conversion permits an in kind exchange between a
plan's interest in a CIF and the purchase of shares in a
registered investment company when the bank is a
fiduciary of the plan.
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PTE 1990-1
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D-7551
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Final Exemption:
55 FR 2891
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Proposed Exemption: 54 FR 31092
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Insurance Company Pooled Separate
Accounts -
Amends and supercedes PTE 78-19
which permits insurance company pooled separate accounts
in which plans invest to engage in certain
transactions with parties in interest and to hold
employer securities or employer real property. The
Amendment:s:
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Expand the percentage of pooled account
interest by a participating plan which can qualify for
the general exemptive relief
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Provide relief for
investments in short term obligations issued by parties
in interest
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PTE 1988-59
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D-5600
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Final Exemption: 53 FR 24811 Correction: 53 FR 26560 Correction: 53 FR 26927 Clarification:
See PTE 2002-13
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Proposed Exemption: 49 FR 48236
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Residential Mortgage Financing
Arrangements -
Replaces and amends PTE 82-87 which permits
various transactions involving the provision by employee
benefit plans of residential mortgage financing. The
Amendment:s expand the coverage of PTE 82-87 to include
transactions involving mortgages on multifamily
residential dwelling units and to mortgages which, but
for their dollar value would otherwise satisfy the terms
of the exemption.
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PTE 1986-128
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D-3970
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Final Exemption: 51 FR 41686 Adopted Amendment: 67 FR 64137
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Proposed Exemption: 50 FR 3427 Proposed Amendment: 67 FR 31838
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Agency Transactions Executed by
Fiduciary Broker-Dealers -
Replaces and revokes PTE's
79-1 and 84-46. Exemption permits plan fiduciaries,
usually a broker-dealer, (who is not a plan
administrator or sponsoring employer) to execute
securities transactions on behalf of a plan, subject to
certain conditions. An Amendment: permits plan
fiduciaries that are discretionary trustees (previously
excluded from relief) to execute securities transactions
on behalf of a plan.
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PTE 1985-68
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D-5258
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Final Exemption:
50 FR 13293
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Proposed Exemption: 49 FR 32127
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Customer Notes -
Supersedes
PTE 79-9. This exemption provides permanent relief for
employee benefit plans to purchase and hold customer
notes which the plan sponsor has received in the
ordinary course of business. The notes are
collateralized by security agreements on equipment
purchased by customers of the sponsor.
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PTE 1984-46
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D-1366 & D-1382
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Final Exemption:
49 FR 22157
Replaced By: 1986-128,
51 FR 41686
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Proposed Exemption: 47 FR 54576
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Recapture of Brokerage Commissions
on Behalf of Insurance Company Pooled Separate Accounts
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Permits an insurance company to
utilize its affiliates to effect or execute securities
transactions in order to recapture brokerage commissions
for the benefit of employee benefit plans whose assets
are maintained in pooled separate accounts managed by
the insurance company.
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PTE 1984-24
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D-447 & D-1903
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Final Exemption: 49 FR 13208
Correction: 49 FR 24819
Adopted Amendment: 71 FR 5887
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Proposed Exemption: 47 FR 14803
Proposed Amendment: 69 FR 55463
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Insurance Agents - Pension
Consultants -
Permits certain transactions involving plans,
insurance agents and brokers, pension consultants,
insurance companies and investment companies who are
parties in interest or fiduciaries, in connection with
purchase of insurance or annuity contracts, or purchase
and sale of securities issued by an investment company.
The Amendment: permits a broader range of
transactions where the party seeking to utilize the
exemption provides non-discretionary trust or custodial
services to the plan but does not render investment
advice.
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PTE 1984-14
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D-4850
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Final Exemption:
49 FR 9494
Correction: 50 FR 41430
Clarification: See PTE 2002-13
Adopted Amendment: 70 FR 49305
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Proposed Exemption: 47 FR 56945
Proposed Amendment: 68 FR 52419
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Qualified Professional Assets
Managers (QPAMs) -
Permits various parties who are
related to employee benefit plans to engage in
transactions involving plan assets if, among other
conditions, the assets are managed by QPAMs which are
independent of the parties in interest and which meet
specified financial standards. Additional exemptive
relief is provided for employers to furnish limited
amounts of goods and services in the ordinary course of
business. Limited relief is also provided for leases of
office or commercial space between managed funds and
QPAMs or contributing employers.
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PTE 1983-1
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D-2789 & d-3060
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Final Exemption: 48 FR 895
Clarification: See PTE 2002-13
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Proposed Exemption: 47 FR 21325
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Mortgage Pool Investment Trusts -
Replace and amends PTE 81-7. The Amendment:s expand the coverage to
include:
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Pools containing loans secured by mortgages
or deeds of trust which are other than first lien loans
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Issuance of forward delivery commitments by
investing plans to purchase pool certificates under
certain circumstances
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PTE 1982-87
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D-1937 & D-2004
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Final Exemption: 47 FR 21331
Correction:
53 FR 26560
Correction:
53 FR 26907
Replaced By: 1988-59, 53 FR 24811
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Proposed Exemption: 48 FR 58773
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Residential Mortgage Financing
Arrangement -
Employee benefit plans are
permitted to provide mortgage financing commitments to
purchasers of certain residential dwelling units and
later honor the commitments by making mortgage loans to
purchasers of the units, the direct acquisition or
disposal of mortgage loans or participation interests in
such mortgages.
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PTE 1982-63
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D-2488
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Final Exemption: 47 FR 14804
Correction: 47 FR 16437
Clarification:
See PTE 2002-13
Clarification:
See 1981-6
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Proposed Exemption: 46 FR 7518
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Provision of Securities Lending
Services- Payment of Compensation -
This class
exemption allows certain compensation arrangements to be
made for the provision by a fiduciary of securities
lending services to an employee benefit plan.
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PTE 1981-82
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D-780
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Final Exemption: 46 FR 46443
Replaced By: 56 FR 54898
Clarification: See 46 FR 46448
Withdrawn:
56 FR 54898
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Proposed Exemption: 45 FR 51303
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Guaranteed Contract Separate
Accounts -
Permits certain transactions involving
insurance company guaranteed contract separate accounts
in which plans invest. Revoked: as of November 22,
1991.
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PTE 1981-8
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Final Exemption: 46 FR 7511
Adopted Amendment: 50 FR 14043
Clarification: See PTE 2002-13
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Proposed Exemption: 45 FR 28017
Proposed Amendment: 49 FR 27379
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Short-Term Investments -
Permits plans to invest in certain short-term investment
products such as banker's acceptances, commercial paper,
repurchase agreements and certificates of deposit which
are issued, sold or guaranteed by a party in interest.
Short-Term Investments (Amendment:s) -
Amends PTE 81-8 in two respects:
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Expands the
categories of sellers with whom plans may enter into
repurchase agreements
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Permits a plan to invest
in securities issued by banks which are parties in
interest solely by reason of furnishing checking
accounts or related services to a plan
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PTE 1981-7
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D-1448, D-1449, D-1357, D-1447
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Final Exemption: 46 FR 7520
Replaced By: 1983-1, 48 FR 895
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Proposed Exemption: 45 FR 29937
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Mortgage Pool Investment Trusts -
Permits transactions related to the
origination, maintenance, and termination of mortgage
pool investment trusts and the acquisition and holding
of certain mortgage-backed pass-through certificates by
employee benefit plans.
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PTE 1981-6
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Final Exemption: 46 FR 7527
Correction: 46 FR 10570
Adopted Amendment: 52 FR 18754
Clarification: See PTE 2002-13
Clarification: See 1982-63
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Proposed Exemption: 45 FR 24946
Proposed Amendment: 51 FR 9900
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Securities Lending -
Permits
lending of securities by plans to banks and
broker-dealers who are parties in interest to such
plans.
Securities Lending (Amendment:s) -
Amends PTE 81-6 by
adding certain specified broker-dealers to the list of
securities borrowers.
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PTE 1980-83
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D-690
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Final Exemption: 45 FR 73189
Clarification: See PTE 2002-13
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Proposed Exemption: 44 FR 44286
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Reduction of Indebtedness -
Permits purchases of securities by plans when proceeds
may be used by the issuer to reduce or retire
indebtedness to parties in interest.
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PTE 1980-51
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Final Exemption: 45 FR 49709
Correction:
45 FR 52949
Replaced By: 1991-38,
56 FR 31966
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Proposed Exemption: 44 FR 44290
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Bank Collective Investment Funds -
Permits bank collective investment funds in which
plans invest to engage in certain otherwise prohibited
transactions.
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PTE 1980-26
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Final Exemption: 45 FR 28545
Correction:
45 FR 35040
Adopted Amendment (1): 65 FR 17540
Adopted Amendment (2): 67 FR 9485
Clarification: See PTE 2002-13
Adopted Amendment (3): 71 FR 17917
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Proposed Exemption: 45 FR 8761
Proposed
Amendment (1): 64 FR 66666
Proposed Amendment (2): 66 FR 49703
Proposed Amendment (3): 69 FR 75088
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Interest-Free Loans to Plans -
Permits parties in interest to make unsecured
interest-free loans to plans for plan operating
expenses.
Note: A
temporary Amendment: to 80-26 expanded the interest free
loan exemption to address potential Y2K problems, from
November 1, 1999 through December 31, 2000.
Note: A temporary Amendment: to 80-26
broadened the availability of PTE 80-26 to include
certain interest-free loans to be used for a purpose
incidental to the ordinary operations of a plan which
arose in connection with difficulties encountered by the
plan in liquidating or otherwise accessing its assets,
or accessing its data in a timely manner, as a direct or
indirect result of the September 11, 2001 disruption to
the financial markets, from September 11, 2001 until
January 9, 2002.
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PTE 1979-60
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D-985 & D-040
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Final Exemption: 44 FR 59018
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Proposed Exemption: 44 FR 4027
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Insurance Agents-In-House -
Permits sale of insurance to plan by an agent or broker
who is the plan sponsor or a related person.
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PTE 1979-41
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D-391 & D-461
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Final Exemption: 44 FR 46365
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Proposed Exemption: 43 FR 22800
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Captive Insurance -
Permits
insurance companies that are substantially affiliated
with sponsors of plans to sell insurance or annuity
contracts which fund such plans.
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PTE 1979-15
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Final Exemption: 44 FR 26979
Clarification: See PTE 2002-13
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Proposed Exemption: 44 FR 7244
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Judicial Orders -
Permits
otherwise prohibited transactions if ordered by a U.S.
District Court or by settlement of litigation approved
by such court provided that the DOL or IRS is a party to
the litigation at time of such order or settlement.
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PTE 1979-13
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D-822
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Final Exemption: 44 FR 25533
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Proposed Exemption: 44 FR 7242
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Closed-End Mutual Fund-In-House -
Permits purchase and sale of shares of
closed-end mutual funds by plans which cover only
employees of either the mutual fund, its investment
adviser or an affiliate.
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PTE 1979-9
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D-639
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Final Exemption: 44 FR 17819
Replaced By: 1985-68,
50 FR 13293
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Proposed Exemption: 42 FR 59321
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Customer Notes -
Temporary
exemption (expired July 1, 1984) which permits plans to
purchase certain notes from plan sponsors where the plan
sponsor receives such notes in the ordinary course of
business and notes are collateralized by security
agreements on equipment purchased by customers.
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PTE 1979-1
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Final Exemption: 44 FR 5963
Replaced By: 1986-128,
51 FR 41686
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Proposed Exemption: 43 FR 55005
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Broker-Dealers-Agency Transactions
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Permits plan fiduciaries to effect (agency)
securities transactions for plans.
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PTE 1978-19
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D-039
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Final Exemption: 43 FR 59915
Correction:
42 FR 58225
Replaced By: 1990-1,
55 FR 2891
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Proposed Exemption: 54 FR 54886
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Insurance Company Pooled Separate
Accounts -
Permits insurance company pooled
separate accounts in which plans invest to engage in
certain transactions with parties in interest and to hold
employer securities or employer real property.
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PTE 1978-6
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L-548, L-582
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Final Exemption: 43 FR 23024
Correction:
43 FR 25492
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Proposed Exemption: 42 FR 38794
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Apprenticeship Plans -
Permits sale or lease of personal property and lease of
real property by collectively bargained multiemployer
apprenticeship plans from contributing employers.
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PTE 1977-10
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L-572
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Final Exemption: 42 FR 33918
Clarification: See 1976-1
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Proposed Exemption: 42 FR 22428
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Multi-Employer Plans -
Extension of PTE 76-1 to cover ERISA section 406(b) (2).
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PTE 1977-9
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D-183, D-301, D-419, D-459, D-4661,
D-478
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Final Exemption: 42 FR 32395
Adopted Amendment: 44 FR 1479
Adopted Amendment: 44 FR 52365
Replaced By: 1984-24,
49 FR 13208
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Proposed Exemption: 41 FR 56760
Proposed Amendment: 43 FR 18354
Proposed Amendment: 44 FR 32310
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Insurance Agents - Pension
Consultants -
Permits certain transactions involving
plans, insurance agents and brokers, pension
consultants, insurance companies and investment
companies who are parties in interest or fiduciaries, in
connection with purchase of insurance or annuity
contracts, or purchase and sale of securities issued by
an investment company.
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PTE 1977-8
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D-0281
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Final Exemption: 42 FR 31574
Correction:
42 FR 33817
Correction:
57 FR 29938
Replaced By: 1992-6,
57 FR 5189
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Proposed Exemption: 42 FR 4036
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Life Insurance Transfer Out -
Permits transfer of life insurance policies by plans to
participants, relatives of participants, plan sponsors
or another plan.
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PTE 1977-7
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Final Exemption: 42 FR 31575
Correction:
42 FR 36529
Replaced By: 1992-5,
57 FR 5019
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Proposed Exemption: 42 FR 4034
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Life Insurance Transfer In -
Permits transfer of life insurance policies to plans by
plan participants or sponsoring employers.
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PTE 1977-4
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D-055
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Final Exemption: 42 FR 18732
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Proposed Exemption: 41 FR 50516
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Open-End Mutual Funds Investment
Adviser -
Permits purchase and sale of
open-end mutual fund shares by a plan when a plan
fiduciary is also the investment adviser for the
investment company marketing the mutual fund.
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PTE 1977-3
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D-025
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Final Exemption: 42 FR 18734
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Proposed Exemption: 41 FR 54080
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Open-End Mutual-Funds In-House
Plans -
Permits purchase and sale of open-end
mutual fund shares by a plan which only covers employees
of a mutual fund, its investment adviser or principal
underwriter, or an affiliate.
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PTE 1976-1
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Final Exemption: 41 FR 12740
Correction:
41 FR 16620
Clarification: See 1977-10
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Proposed Exemption: 40 FR 23798
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Multi-Employer Plans -
Permits
certain transactions between multiemployer plans and
parties in interest involving delinquent employer
contributions, construction loans, leasing of office
space, provision of services and the sales of goods.
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PTE 1975-1
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Final Exemption: 40 FR 50845
Clarification: See 1979-1, 1986-128
Final Amendment: 71 FR 5883
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Proposed Exemption: 40 FR 33564
Proposed Interim: 40 FR 2483
Interim Exemption 40 FR 5201
Interim Extension: 40 FR 17861
Interim Extension: 40 FR 24578
Proposed Amendment: 69 FR 23216
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Securities Transactions -
Permits certain principal transactions,
underwritings,
market-making and extensions of credit between plans and
broker-dealers, reporting dealers and banks.
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PTE 84-14
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D-11270
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Proposed Amendment: 70 FR 49312
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If adopted, the proposed amendment to
the QPAM exemption would permit a QPAM to manage an
investment fund containing the assets of its own plan or
the plan of an affiliate.
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