The Department of Labor (DOL) is asking for feedback on an information collection related to Prohibited Transaction Class Exemption 2002-12, which involves buying and selling securities between investment funds through passive or model-driven cross-trading programs. This request has been sent to the Office of Management and Budget (OMB) for approval under the Paperwork Reduction Act and comments will be accepted until April 28, 2025. The aim is to evaluate whether the information collection is necessary, accurate, and burdensome, and if there are ways to improve or simplify it. The OMB will determine if the collection can proceed, with approval lasting up to three years.
Simple Explanation
The government wants people to share their thoughts on a rule about trading stocks between different funds, and they have until April 28, 2025, to do it. They want to know if the rule is helpful and if it’s easy or hard for people to follow.