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Proposed Amendment to Prohibited Transaction Exemption 86-128 to Permit Discretionary Trustees to Execute Securities Transactions through Affiliated Broker-Dealers

May 01, 2002

By Investment Management Practice Group

The U.S. Department of Labor has issued a proposed amendment to Prohibited Transaction Exemption 86-128, a class exemption from section 406(b) of ERISA that permits an ERISA plan fiduciary (or its affiliate) to receive a fee for executing securities transactions on behalf of the plan.