Labor Department, Employee Benefits Security Administration
This document contains 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 or the Act) and/or the Internal Revenue Code of 1986 (the Code). This exemption allows TTI to continue to rely on the exemptive relief provided by Prohibited Transaction Class Exemption 84- 14 (PTE 84-14 or the QPAM Exemption), notwithstanding the judgment of conviction against SMBC Nikko Securities, Inc. (Nikko Tokyo), as 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 2024-01; Exemption Application No. D-12096] AGENCY: Employee Benefits Security Administration, Labor. ACTION: Notice of exemption. SUMMARY: This document contains 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 or the Act) and/or the Internal Revenue Code of 1986 (the Code). This exemption allows TTI to continue to rely on the exemptive relief provided by Prohibited Transaction Class Exemption 84-14 (PTE 84-14 or the QPAM Exemption), notwithstanding the judgment of conviction against SMBC Nikko Securities, Inc. (Nikko Tokyo), as described below. DATES: The exemption will be in effect for a period of five years, beginning on February 13, 2024, and ending on February 12, 2029. FOR FURTHER INFORMATION CONTACT: Mr. Joseph Brennan of the Department at (202) 693-8456. (This is not a toll-free number.) SUPPLEMENTARY INFORMATION: On December 20, 2023, the Department published a notice of proposed exemption in the Federal Register   [ 1 ] that would permit TTI to continue its reliance on the exemptive relief provided by the QPAM Exemption  [ 2 ] for a period of five years, notwithstanding the judgment of conviction against TTI's affiliate, Nikko Tokyo for attempting to peg, fix or stabilize the prices of certain Japanese equity securiti…
Citation: 89 FR 20493
