Search Results for keywords:"ERISA compliance"

The Employee Benefits Security Administration of the U.S. Department of Labor has issued an exemption notice for UBS-managed Qualified Professional Asset Managers (UBS QPAMs). This exemption allows UBS QPAMs to rely on Prohibited Transaction Exemption 84-14 (PTE 84-14), despite past criminal convictions within the UBS and Credit Suisse corporate families. The exemption is valid from June 12, 2023, through June 11, 2029, provided UBS QPAMs adhere to specific conditions designed to ensure compliance with fiduciary standards and protect ERISA-covered plans and IRAs. This decision aims to shield plan participants and beneficiaries from potential financial harm while maintaining oversight over UBS QPAMs' activities.

The Department of Labor is asking for public comments on an information collection request related to the acquisition and sale of Real Estate Investment Trust (REIT) shares by individual account plans. This request aims to ensure compliance with specific legal exemptions allowing certain transactions that would otherwise be prohibited. The public is invited to provide feedback on the necessity, accuracy, and methods of collecting the information by April 28, 2025. The information collection is under review for a potential three-year authorization by the Office of Management and Budget.