SIA Submits Comments to the US Department of Labor on Proposed Class Exemption for Securities Cross-Traded by Index and Model-Driven Funds
Published on:
February 14, 2000
The Securities Industry Association (SIA)* provide comments to the Pension & Welfare Benefits Administration of theU.S. Department of Labor on a proposed class exemption for securities cross-traded by index and model-driven funds. SIA believes that the ability to cross-trade is a positive benefit to investors and that cost savings that have realized in mutual funds and non-Employment Retirement Income Security Act of 1974 (ERISA) accounts over the years should be extended to ERISA plans. SIA offers its observations and recommendations regarding the proposal.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.