SIFMA provides comments to the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) on a proposed regulation under the Employee Retirement Income Security Act of 1974 (ERISA) that would redefine what constitutes a “reasonable contract or arrangement” for purposes of the statutory exemption in Internal Revenue Code (Code) Section 408(b)(2) from certain prohibited transaction provisions of ERISA.  SIFMA urges DOL to hold a hearing on this very important proposal, since, based on the comments filed with respect to this regulation, it contains sweeping and significant changes which have confused and disturbed the plan community.