Cross Trades of Securities
Published on:
May 19, 1998
The Investment Adviser, Investment Company, Federal Regulation and Retirement Products and Estate Services Committees of the Securities Industry Association (SIA)* provides comments to the Pension and Welfare Benefits Administration Office of Exemption Determinations of the U.S. Department of Labor on cross trades of securities by investment managers with respect to accounts, portfolios or funds holding “plan assets” subject to the fiduciary responsibilities of Part 4 of Title 1 of the Employee Retirement Income Security Act of 1974, as amended (ERISA). SIA’s observations specifically address cross trades for actively managed accounts.