SIFMA Statement on DOL Announcement of Delay of PTE Enforcement

Washington, DC, October 25, 2021 – SIFMA released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, today regarding an announcement by the Department of Labor on a temporary delay of the enforcement effective date for Prohibited Transaction Exemption 2020-02:

“We appreciate that the Department recognized the industry needs additional time to comply with Class Exemption 2020-02, and we thank the Department for the relief provided by in the notice issued today.  We will continue to work with the Department on our shared goal of a smooth and effective implementation of this important exemption.”


SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit