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The Department of Labor has issued a notice to request public comments on an information collection related to foreign currency transactions involving employee benefit plans. This is conducted under a class exemption that allows certain financial institutions to engage in such transactions with the plans, provided certain conditions are met. The public can submit comments or feedback until April 14, 2025, and the Department aims to ensure the transaction processes protect the interests of plan participants. The collection seeks to gather input on the necessity, accuracy, and impact of the information collection, which is subject to approval by the Office of Management and Budget.

The Department of Labor (DOL) is asking for public comments on a request to collect information related to Bank Collective Investment Funds under the Prohibited Transaction Class Exemption 1991-38. This information gathering is required to ensure that certain financial transactions involving employee benefit plans comply with the rules and are fair and transparent. The document highlights the importance of the collection, potential burden and cost, and welcomes suggestions for improvement. Comments can be submitted by April 28, 2025, and details on how to submit them are provided in the notice.