Labor Department, Employee Benefits Security Administration
This document is a notice of exemption issued by the Department of Labor (the "Department") from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 ("ERISA") and the Internal Revenue Code of 1986 (the "Code"). The exemption allows entities with specified relationships to Credit Suisse AG ("CSAG") and Credit Suisse Securities (Europe) Limited ("CSSEL") to continue to rely on the exemptive relief provided by Prohibited Transaction Class Exemption 84-14, notwithstanding the judgments of conviction against CSAG and CSSEL, described below.
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of Labor Employee Benefits Security Administration [Prohibited Transaction Exemption 2022-01; Exemption Application No. D-12065] AGENCY: Employee Benefits Security Administration, Labor. ACTION: Notice of exemption. SUMMARY: This document is a notice of exemption issued by the Department of Labor (the “Department”) from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (“ERISA”) and the Internal Revenue Code of 1986 (the “Code”). The exemption allows entities with specified relationships to Credit Suisse AG (“CSAG”) and Credit Suisse Securities (Europe) Limited (“CSSEL”) to continue to rely on the exemptive relief provided by Prohibited Transaction Class Exemption 84-14, notwithstanding the judgments of conviction against CSAG and CSSEL, described below. ( printed page 23250) DATES: The exemption will be in effect for one year beginning on the date of conviction of Credit Suisse Securities (Europe) Limited in Case Number 1:21-cr-00520-WFK. FOR FURTHER INFORMATION CONTACT: Erin Scott Hesse of the Department at (202) 693-8546. (This is not a toll-free number.) SUPPLEMENTARY INFORMATION: On January 10, 2022, the Department published a notice of proposed exemption in the Federal Register   [ 1 ] for certain qualified professional asset managers within the corporate family of Credit Suisse Group AG (“CSG”), to continue relying on the cla…
Citation: 87 FR 23249
