*Letters

SIA and Other Associations Submit Comments to the US Department of Labor on Proposed Active-Cross Trading Exemption

Published on:
July 10, 2000

The Securities Industry Association (SIA)*, the Investment Company Institute (ICI), the Association for Investment Management and Research, and the Investment Council Association of Americaprovide comments to the Pension & Welfare Benefits Administration of U.S. Department of Labor (DOL) onthe joint submission in support of active cross-trading exemption from Section 406(b)(2) of the Employee Retirement Income Security Act of 1974 (ERISA).Thegroups believe there is compelling evidence that there are adequate safeguards and remedies available to pension funds should they decide voluntarily to engage in active cross-trades.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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