The US Department of Labor (DOL) published in the July 27, 2022, Federal Register a number of proposed changes to Prohibited Transaction Class Exemption (PTE) 84-14, the so-called “QPAM Exemption.” Investment managers of US...more
A recent enforcement action (Proceeding) by the US Securities and Exchange Commission (SEC) against a state-chartered trust company (Trust Company) has attracted attention in the banking and asset management industries. ...more