The Department of Labor has issued a final rule governing the content requirements of cross-trading policies and procedures under the statutory exemption provided by the PPA.
Document Excerpt
This document contains a final rule that 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 (ERISA or the Act). Section 611(g) of the Pension Protection Act of 2006, Public Law No. 109-280, 120 Stat. 780, 972, amended section 408(b) of ERISA by adding a new subsection (19) that exempts the purchase and sale of a security between a plan and any other account managed by the same investment manager if certain conditions are satisfied.
Link http://www.dol.gov/federalregister/HtmlDisplay.aspx?DocId=21589&AgencyId=8&DocumentType=2
RSS Feeds