Proposed Exemption From Certain Prohibited Transaction Restrictions for Certain Asset Managers Related to UBS AG (UBS) Located in Zurich, Switzerland

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 [Exemption Application No. D-12118] AGENCY: Employee Benefits Security Administration, Department of Labor. ACTION: Notice of proposed exemption. SUMMARY: If granted, this proposed exemption would allow certain current and future UBS-related asset managers to rely on Prohibited Transaction Exemption (PTE) 84-14 until May 4, 2031, if certain conditions are met, notwithstanding four judgments of conviction and one non-prosecution agreement involving entities within UBS' corporate umbrella. DATES: If granted, this proposed exemption will be in effect for the period beginning on May 5, 2026, and ending on May 4, 2031. Comments due: Written comments and requests for a public hearing on the proposed exemption must be received by the Department by April 6, 2026. ADDRESSES: All written comments and requests for a hearing should be sent to the Employee Benefits Security Administration (EBSA), Office of Exemption Determinations, Attention: Application No. D-12118: via email to e-OED@dol.gov ; or online through http://www.regulations.gov . Follow the “Submit a comment” instructions. Any such comments or requests should be sent by the end of the scheduled comment period. The application for exemption and the comments received will be available for public inspection in the Public Disclosure Room of the Employee Benefits Security Administration, U.S. Department of Labor, Room N-1515, 200 Constitution Avenue NW, Washi…