Insights
Client Alert
Proposed Amendment to Prohibited Transaction Exemption 86-128 to Permit Discretionary Trustees to Execute Securities Transactions through Affiliated Broker-Dealers
May 01, 2002
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.