DOL Adopts Amendment to Class Exemption for QPAMs

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On July 6, the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) adopted an amendment to Prohibited Transaction Exemption (PTE) 84-14 that permits qualified professional asset managers (QPAMs) to act as QPAMs for their own employee benefit plans, or the plans of an affiliate, if certain additional conditions are met.

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