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Email On December 28, 2012, the U.S. Department of Labor (the “DOL”) published a proposed amendment to the so-called “Underwriter Exemptions,” which provide relief from certain of the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Underwriter Exemptions are a group of individual prohibited transaction exemptions (“PTEs”) and EXPRO final authorizations that permit employee benefit plans subject to ERISA or Section 4975 of the Internal Revenue Code (“Plans”) to, among other things, purchase certain securities representing interests in asset-backed or mortgage-backed investment pools. https://www.cadwalader.com/resources/clients-friends-memos/us-department-of-labor-proposes-new-criteria-for-which-entities-would-qualify-as-rating-agencies-in-connection-with-the-underwriter-exemptions