PTE 2010-01 |
D-11082 and D-11109 |
G: 75 FR 8117 (02/23/10) |
P: 73 FR 39158 (07/08/08) |
Deutsche Bank, AG (Deutsche Bank)
Permits, effective July 8, 2008, certain foreign
exchange transactions that are executed by Deutsche Bank or an
affiliate (domestic or foreign) that is a bank or broker-dealer,
acting as a local subcustodian, where Deutsche Bank or its affiliates,
as asset managers, have determined to invest the assets of a client
plan held in a separately managed account, an in-house plan whose
assets are held in a separately managed account with Deutsche Bank or
its affiliate, or a pooled fund, in foreign securities. The
global custodian, who directs the subcustodian to execute the foreign
exchange transaction, is independent of Deutsche Bank. The
foreign exchange transactions must involve either a trade-related
currency conversion, or an income item conversion. In addition,
these foreign exchange transactions are limited to those transactions
involving less developed currencies. Less developed currencies
are those currencies in which the global custodian does not make a
market at the time of the transaction and in which the global
custodian determines to purchase from or sell to the plan’s or
pooled fund’s local subcustodian on behalf of a plan or pooled fund
because the currency is difficult to trade, undeveloped or the subject
of local government restrictions, or because of the volatility or lack
of liquidity in the market at the time of the transaction. The
term “less developed currencies” does not include the following
currencies: the Euro; the British pound; the Swiss franc, the
Canadian dollar; or the Japanese yen. |
|
PTE 2010-02 |
D-11522 |
G: 75 FR 8125 (02/23/10) |
P: 74 FR 49031 (09/25/09) |
State Street Bank and Trust Company (State Street)
Permits, effective October 24, 2008, the cash sale of certain mortgage, mortgage-related, and other asset-backed securities for $2,447,381,010 by stable value commingled funds and separate accounts both holding assets of employee benefit plans (the Accounts) to State Street, the investment manager and/or trustee for the Accounts. |
|
PTE 2010-03 |
D-11571 |
G: 75 FR 8127 (02/23/10) |
P: 74 FR 58992 (11/16/09) |
The Bank of New York Mellon (BNY Mellon)
Permits, effective February 20, 2009, the cash sale of certain floating rate securities issued by Lehman Brothers Holdings, Inc. or its affiliates (together, Lehman), for an aggregate purchase price of $235,737,419.05 by the EB Temporary Investment Fund – Lehman, the EB SMAM Short-Term Investment Fund – Lehman, the DF Temporary Investment Fund – Lehman and the Pooled Employee Daily Liquidity Fund – Lehman (collectively, the Funds), to The Bank of New York Mellon Corporation, a party in interest with respect to employee benefit plans invested, directly or indirectly, in the Funds. |
|
PTE
2010-04 |
D-11491 |
|
G:
75 FR 12297 (03/15/10) |
P:
74 FR 58987 (11/16/09) |
|
JPMorgan Chase Bank, N.A. (JPMCB)
Permits, effective July 1, 2004, the continued and
future provision by JPMCB or by its current or future affiliates of
letters of credit to guarantee the commercial lease obligations of
unrelated third-party tenants in connection with commercial properties
owned by a Fund or commercial properties for which a Fund has a security
interest, where JPMCB is the manager and trustee of such Funds that hold
the assets of certain employee benefit plans. |
|
PTE
2010-05 |
D-11509 |
|
G:
75 FR 12298 (03/15/10) |
P:
74 FR 68102 (12/22/09) |
|
Goldman Sachs & Co. and Its Affiliates (Goldman)
Permits, effective February 1, 2008, (1) the sale by
a plan of an Auction Rate Security to Goldman, where such sale is
unrelated to, and not made in connection with a Settlement Agreement;
and (2) the sale by a plan of an Auction Rate Security to Goldman, where
such sale is related to, and made in connection with a Settlement
Agreement. |
|
PTE
2010-06 |
D-11532 |
|
G:
75 FR 12300 (03/15/10) |
P:
74 FR 68105 (12/22/09) |
|
Louis Chaykin, M.D., P.A., Cross-Tested Profit
Sharing Plan (the Plan)
Permits the proposed sale at fair market value by the
Plan of certain coins to Louis B. Chaykin, M.D., a party in interest
with respect to the Plan. |
|
PTE
2010-07 |
D-11556 |
|
G:
75 FR 12300 (03/15/10) |
P:
74 FR 68110 (12/22/09) |
|
Columbia Management Advisors, LLC (Columbia), et al.
Permits the purchase of certain securities (the
Securities) by an Asset Manager (i.e., Columbia or an affiliate of
Columbia), from any person other than such Asset Manager or any
affiliate thereof, during the existence of an underwriting or selling
syndicate with respect to such Securities, where a broker-dealer
affiliated with Columbia is a manager or member of such syndicate and
the Asset Manager purchases such Securities, as a fiduciary: (1) on
behalf of an employee benefit plan or plans (Client Plans); or (2) on
behalf of Client Plans and/or In-House Plans, which are invested in a
pooled fund or pooled funds. These transactions are called “affiliated
underwriter transactions,” or “AUTs.” |
|
PTE
2010-08 |
L-11575 |
G: 75 FR 14192 (03/24/10) |
P: 74 FR 64716 (12/08/09) |
Ford Motor Company
(Ford)
Permits, effective December 31, 2009, the following transactions involving Ford and the UAW Retiree Medical Benefits Trust (the VEBA Trust): (1) the acquisition and holding of certain employer securities by the VEBA Trust that are either not qualifying employer securities or account for more than 10% of the VEBA Trust’s assets at the time of the transfer; (2) certain transactions resulting from the exercise by Ford or the VEBA Trust of certain rights pursuant to the terms of the employer securities acquired by the VEBA Trust under the Hardwick II 2009 Settlement Agreement; and (3) certain transactions between Ford and the VEBA Trust that may occur as a result of the transfer of responsibility to provide retiree medical benefits from Ford to the VEBA Trust as possible loans or the transfer of plan assets resulting from reimbursements for expenses or benefits by the responsible parties. |
|
PTE
2010-09 |
D-11492 |
|
G:
75 FR 16843 (04/02/10) |
P:
74 FR 58996 (11/16/09) |
|
Ivy Asset Management Corporation (Ivy)
Permits, effective December 31, 2008, (a) the cash
sale of certain equity interests (the Shares) in hedge funds organized
outside the United States, which Shares are held in the Ivy Enhanced
Income Fund (the Fund), a sub-fund established under the Alternative
Investment-Master Group Trust, to Ivy, a party in interest with respect
to certain employee benefit plans, including a defined benefit plan
sponsored by Ivy’s parent corporation, The Bank of New York Mellon
Corporation, (collectively, the Plans) and certain individual retirement
accounts (the IRAs), where such Plans and IRAs have interests in the
Fund; and (b) the sale for cash of certain restricted shares of the D.E.
Shaw Composite International Fund, Ltd., a hedge fund organized outside
the United States, to Ivy Holding Cayman, LTS, an affiliate of Ivy which
is also organized outside the United States, and which is a party in
interest with respect to the Plans and the IRAs, where such Plans and
IRAs have interests in the Fund. |
|
PTE
2010-10 |
D-11518 |
|
G:
75 FR 16845 (04/02/10) |
P:
75 FR 3074 (01/19/10) |
|
Deutsche Bank AG and Its Affiliates (together,
Deutsche Bank or the Applicant)
Permits, effective February 1, 2008: (1) the sale of
an Auction Rate Security by a Plan to Deutsche Bank, where such sale is
unrelated to, and not made in connection with a Settlement Agreement; or
(2) the sale of an Auction Rate Security by a Plan to Deutsche Bank,
where such sale is related to, and made in connection with a Settlement
Agreement. |
|
PTE
2010-11 |
D-11555 |
|
G:
75 FR 16847 (04/02/10) |
P:
74 FR 68106 (12/22/09) |
|
The Coca Cola Company (TCCC)
Permits the proposed reinsurance of risks and receipt
of premiums therefrom by Red Re Inc., a wholly-owned subsidiary of TCCC,
domiciled in South Carolina, in connection with a medical stop-loss
insurance policy sold by The Prudential Insurance Company of America
(Prudential), or any successor insurance company to Prudential which is
unrelated to TCCC, which would pay for certain benefits under the TCCC
Retiree Health Plan. |
|
PTE
2010-12 |
L-11566 |
|
G: 75 FR 21668 (04/26/10) |
P: 74 FR 55182 (10/05/09) |
|
Chrysler LLC (Chrysler)
Permits, effective June 10, 2009: (1) the acquisition
by the UAW Chrysler Retiree Medical Benefits Plan (the New Chrysler VEBA
Plan) and its associated UAW Retiree Medical Benefits Trust (the VEBA
Trust) of: (a) 676,924 shares of New Chrysler Shares (the Shares); and
(b) a Note issued by New Chrysler with a principal amount of
$4,587,000,000 and an implicit interest rate of nine percent (9%) (the
Note) transferred by New Chrysler and deposited in the Chrysler Employer
Security Sub-Account of the Chrysler Separate Retiree Account of the
VEBA Trust; (2) the holding of the Shares and the Note by the New
Chrysler VEBA Plan in the in the Chrysler Employer Security Sub-Account
of the Chrysler Separate Retiree Account of the VEBA Trust; (3) the
disposition of the Shares and the Note; (4) the sale by the New Chrysler
VEBA Plan to Fiat S.p.A. (Fiat) of Shares pursuant to the exercise by
Fiat of the Call Option Agreement and/or the First Offer Right described
in the New Chrysler Operating Agreement; (5) the payment by New
Chrysler, the Existing Internal VEBA, the New Chrysler VEBA Plan, or any
affiliate of New Chrysler of a benefit claim that was the responsibility
and legal obligation, under the terms of the applicable plan documents,
of one of the other parties listed in this paragraph; and (6) the
reimbursement by New Chrysler, the Existing Internal VEBA, the New
Chrysler VEBA Plan, or any affiliate of New Chrysler, of a benefit claim
that was paid by another party listed in this paragraph, which was not
legally responsible for the payment of such claim, plus interest. |
|
PTE
2010-13 |
D-11425 |
|
G: 75 FR 22847 (04/30/10) |
P: 75 FR 3054 (01/19/10) |
|
Putnam Fiduciary Trust Company (PFTC)
Permits, effective January 19, 2010: (1) the purchase
or sale by a Collective Fund of shares of a Mutual Fund where PFTC or
its affiliate (collectively, Putnam) is the investment advisor of the
Mutual Fund as well as a fiduciary with respect to the Collective Fund
(or an affiliate of such fiduciary); and (2) the receipt of fees by
Putnam from a Mutual Fund for acting as the investment advisor for the
Mutual Fund and/or for providing other services to the Mutual Fund
(i.e., Secondary Services) in connection with the investment by the
Collective Fund in shares of the Mutual Fund. |
|
PTE
2010-14 |
D-11502 |
|
G: 75 FR 22850 (04/30/10) |
P: 75 FR 3071 (01/19/10) |
|
UBS Financial Services Inc. and Its Affiliates (UBS)
Permits, effective February 1, 2008: (1) the sale or
exchange of an Auction Rate Security by a Plan to its sponsor or an
affiliate thereof; or (2) a lending of money or other extension of
credit to a Plan in connection with the holding of an Auction Rate
Security by the Plan from UBS, an Introducing Broker or a Clearing
Broker, where the loan is repaid in accordance with its terms and is
guaranteed by the Sponsor. |
|
PTE
2010-15 |
D-11531 |
|
G: 75 FR 22852 (04/30/10) |
P: 75 FR 8132 (02/23/10) |
|
Subaru of America, Inc. (Subaru)
Permits the reinsurance of risks and receipt of
premiums therefrom by Pleiades Insurance Co., Inc., a wholly-owned
subsidiary of Subaru, in connection with an insurance contract sold by
Minnesota Life Insurance Company to provide group-term life insurance to
Subaru employees under the Subaru of America, Inc. Welfare Benefit Plan. |
|
PTE
2010-16 |
D-11521 |
|
G:
75 FR 33333 (06/11/10)
O:
75 FR 34179 (06/16/10) Notice of Technical Correction |
P:
75 FR 3078 (01/19/10) |
|
Morgan Stanley & Co., Inc. and Its Current and
Future Affiliates and Subsidiaries (Morgan Stanley) and Union Bank, N.A.
(Union Bank)
Permits: (1) the lending of securities by employee
benefit plans for which Morgan Stanley, Union Bank or an affiliate of
either acts as securities lending agent or sub-agent, to Morgan Stanley
and its successors and Union Bank and its successors, and any current or
future affiliate of Morgan Stanley or Union Bank that is a bank
supervised by the US or a state, any broker-dealer registered under the
Securities Exchange Act of 1934, or any foreign affiliate that is a bank
or broker-dealer that is supervised by the appropriate regulatory
authority in the United Kingdom, Germany, Japan, Canada, Switzerland,
Australia, France and Sweden; and (2) the receipt of compensation by the
Lending Agent and the Lending Sub-Agent in connection with these
transactions. |
|
PTE
2010-17 |
D-11584 |
|
G:
75 FR 33338 (06/11/10)
O:
75 FR 34179 (06/16/10) Notice of Technical Correction |
P:
75 FR 8134 (02/23/10) |
|
The Bank of New York Mellon (BNY Mellon)
Permits, effective July 10, 2009, the cash sale of
certain medium term notes, issued by Stanfield Victoria Finance Ltd.,
for an aggregate purchase price of $26,997,049 million by BNY Mellon’s
Short Term Investment Fund, a money market fund, to The Bank of New York
Mellon Corporation, a party in interest with respect to the employee
benefit plans that invested in the Fund. The purchase price represents
amortized cost for the securities plus interest based upon the rate
earned by the Fund during the relevant period. |
|
PTE
2010-18 |
L-11558 |
|
G:
75 FR 33338 (06/11/10)
O:
75 FR 34180 (06/16/10) Notice of Technical Correction |
P:
74 FR 68120 (12/22/09) |
|
Boston Carpenters Apprenticeship and Training Fund (the Fund)
Permits the purchase by the Fund from the NERCC, LLC,
a party in interest with respect to the Fund, of a condominium unit in a
building (the Building) owned by the New England Regional Council of
Carpenters (the Union), also a party in interest with respect to the
Fund, where the Union will own the only other condominium in the
Building. |
|
PTE
2010-19 |
D-11448 |
|
G: 75 FR 38551 (07/02/10)
O: 75 FR 39707 (07/12/10) Notice of Technical Correction |
P: 75 FR 3060 (01/19/10) |
|
The PNC Financial Services Group, Inc. and Its
Affiliates (together, PNC)
Permits, effective October 31, 2007, certain in-kind
redemptions by The Employees’ Thrift Plan of Mercantile Bankshares
Corporation and Participating Affiliates (the Mercantile Plan) that
occurred overnight on October 31, 2007, of shares of proprietary mutual
funds (the Funds) for which PNC provides investment advisory and other
services. In a case of first impression, the in-kind redemptions for
four of the five subject Funds were not conducted on a pro rata basis -
- a method permitted by prior exemptions, which ensures that the
individual stocks selected for the redemptions are objectively
determined. This case, however, involved unique circumstances because,
among other things, the in-kind redemptions facilitated the merger of
the Mercantile Plan into the PNC Financial Services Group, Inc.
Incentive Savings Plan - - which maintains an “open” investment
platform. More importantly, the exemptive relief is conditioned on PNC
paying the brokerage commissions associated with the subsequent sale of
the securities, received pursuant to the redemptions, by the Mercantile
Plan. |
|
PTE
2010-20 |
D-11514 |
|
G: 75 FR 38553 (07/02/10)
O: 75 FR 39707 (07/12/10) Notice of Technical Correction |
P: 75 FR 8128 (02/23/10) |
|
Citigroup and Its Affiliates (Citigroup)
Permits, effective February 1, 2008: (1) the sale by
a Plan of an Auction Rate Security to Citigroup, where such sale is
unrelated to, and not made in connection with a Settlement Agreement;
and (2) the sale by a Plan of an Auction Rate Security to Citigroup,
where such sale is related to, and made in connection with a Settlement
Agreement. Plans would receive par value (i.e., the face amount) for
their auction rate securities, plus any accrued but unpaid interest or
dividends. Although auction rate securities were previously very liquid
and could be sold at par value through an auction process, Plans
continue to be unable to sell their auction rate securities at par value
on the open market. |
|
PTE
2010-21 |
D-11527 |
|
G: 75 FR 38555 (07/02/10)
O: 75 FR 39707 (07/12/10) Notice of Technical Correction |
P: 75 FR 12308 (03/15/10) |
|
Barclays California Corporation (Barcal)
Permits, effective September 4, 2008, the cash sales
by the Barclays Global Investors “Money Market Fund” and “Cash
Equivalent Fund II, “which are short-term collective investment funds
managed by Barclays Global Investors, N.A., of three short-term debt
instruments (i.e., notes issued by a structured investment vehicle (SIV))
to Barcal for amortized cost plus accrued and unpaid interest. The notes
lost much of their value after the SIV began defaulting on payments due. |
|
PTE
2010-22 |
D-11533 &
D-11534 |
|
G: 75 FR 38556 (07/02/10)
O: 75 FR 39707 (07/12/10) Notice of Technical Correction |
P: 75 FR 16848 (04/02/10) |
|
CUNA Mutual Pension Plan for Represented Employees
and CUNA Mutual Pension Plan for Non-Represented Employees (together,
the Plans); and Citizens Bank Wealth Management, N.A., et al.
Permits, (1) the February 20, 2009 cash sale (the
Sale), at aggregate cost basis plus interest, by each of the Plans of
interests in certain private equity funds (the Funds) to the CUNA Mutual
Insurance Society (the Applicant), the sponsor of the Plans and a party
in interest with respect to the Plans, pursuant to a contract between
the Applicant and the trustee of the Plans concluded on that same date;
(2) the September 14, 2009 payment by the Applicant of certain
additional cash amounts, including interest (the Top-Up Payments); to
the Plans pursuant to the terms of the foregoing contract; and (3) the
extension of credit between the Plans and the Applicant from the date of
the Sale (February 20, 2009) to the date of the Top-Up Payments
(September 14, 2009). The terms of the Sale transactions, which were
reviewed and approved by an independent fiduciary prior to their
consummation, stipulated that the Plans initially receive a return of
their aggregate cost basis in the Funds plus interest accrued since the
time of their acquisition by the Plans. The terms of the Top-Up Payment
transactions, which were also reviewed and approved by an independent
fiduciary, stipulated that such payments occur in instances where it was
found that the year-end value (i.e., December 31, 2008) of any
particular Fund had exceeded its cost basis. |
|
PTE
2010-23 |
D-11500 |
|
G:
75 FR 47637 (08/06/10)
|
P:
75 FR 12306 (03/15/10)
|
|
Carle Foundation Hospital & Affiliates Pension Plan
(the Plan)
Permits the sale of a certain limited partnership
interest by the Plan to Carle Foundation Hospital Foundation, a party in
interest with respect to the Plan.
|
|
PTE
2010-24 |
D-11565 |
|
G:
75 FR 47637 (08/06/10)
|
P:
75 FR 17966 (04/08/10)
|
|
Citizens Bank Wealth Management, N.A.
Permits, effective December 16, 2008, the sale of
auction rate securities (ARS) to Citizens Republic Bancorp, a party in
interest, by the Four-Way Tool & Die Profit Sharing Plan at par value
plus accrued interest.
|
|
PTE
2010-25 |
D-11602 |
|
G:
75 FR 47638 (08/06/10)
|
P:
75 FR 22860 (04/30/10)
|
|
State Street Bank and Trust Company, et al. (State
Street)
Applies, as of December 22, 2009, to the cash sale of
certain fixed income securities for an aggregate purchase price of
$113,977,880.15 by the Quality D Short-Term Investment Fund (the Fund) to
State Street, a fiduciary with respect to the Fund and a party in interest
with respect to employee benefit plans invested, directly or indirectly,
in the Fund.
|
|
PTE
2010-26 |
D-11456 |
|
G: 75 FR 56564 (09/16/10) |
P: 75 FR 22853 (04/30/10)
|
|
O: 75 FR
71151 (11/23/10) Notice of Technical Correction & Clarification
PNC Financial Services Group, Inc. (PNC)
Permits, effective February 1, 2008, in connection with
the investment in an open-end investment company (a Fund(s)) by certain
employee benefit plans (Client Plan(s)) for which PNC serves as a
fiduciary and is a party in interest with respect to such Client Plan, (a)
the receipt of fees by PNC and its affiliate PNC Capital Advisors, Inc.
from the Funds in connection with the investment by the Client Plans in
shares of the Funds where PNC or its affiliate PCA acts as an investment
advisor for such Funds; and (b) the receipt of fees by PNC or its
affiliates from the Funds in connection with providing certain secondary
services to such Funds in which a Client Plan invests.
|
|
PTE
2010-27 |
L-11609 |
G: 75 FR 56568 (09/16/10) |
P: 75 FR 38561 (07/02/10) |
O: 75 FR 58444 (09/24/10) Notice of Technical Correction |
O: 75 FR 39707 (07/12/10) Notice of Technical Correction |
Finishing Trades Institute of the Mid-Atlantic Region
(the Plan)
Permits the proposed loan of approximately $1,081,416
(the Loan) to the Plan by the International Union of Painters and Allied
Trades, District Council 21, a party in interest with respect to the Plan,
for (1) the repayment of an outstanding loan made to the Plan by Commerce
Bank and currently held by TD Bank, both of which are unrelated parties;
and (2) to facilitate the expansion of a training facility that is
situated on certain real property owned by the Plan. A qualified
independent fiduciary would determine the fairness of the Loan and monitor
the Loan throughout its term. The fair market value of the property that
secures the Loan would be determined by a qualified independent appraiser.
|
|
PTE
2010-28 |
D-11597 |
G: 75 FR 61775 (10/06/10) |
P: 75 FR 47642 (08/06/10) |
John D. Simmons Individual Retirement Account (the IRA)
Permits the cash sale by the IRA to John D. Simmons, the IRA owner and a disqualified person with respect to the IRA, of a 50 percent interest in a condominium. |
|
PTE
2010-29 |
L-11624 |
G: 75 FR 61776 (10/06/10) |
P: 75 FR 33350 (06/11/10) |
Boston Carpenters Apprenticeship and Training Fund (the Fund)
Permits, for the period January 29, 2010 through June 30, 2010, the lease by the Fund from the NERCC, LLC (the Building Corporation), a party in interest with respect to the Fund, of a condominium unit in a building (the Building) owned by the Building Corporation, where the New England Regional Council of Carpenters, also a party in interest with respect to the Fund, indirectly owns the only other condominium unit in the Building. |
|
PTE
2010-30 |
L-11568 |
|
G:
75 FR 62879 (10/13/10) |
P:
74 FR 47963 (09/18/09) |
|
UAW General Motors Company Retiree Medical
Benefits Plan (the New UAW-GM Plan) and the UAW Retiree
Medical Benefits Trust (the VEBA Trust) (collectively, the New
Plan)
Permits, effective July 10, 2009: (1) the
acquisition by the New Plan of: (a) 87,500,000 shares of
common stock of General Motors Company (New GM) (the New GM
Common Stock) representing 17.5% of New GM equity; (b) $6.5
billion of Series A Fixed Rate Cumulative Perpetual Preferred
Stock of New GM; (c) a note issued by New GM and assigned to
General Motors Holdings, LLC with a principal amount of $2.5
billion; (d) warrants to acquire New GM Common Stock
representing 2.5% of New GM equity; and (e) additional shares
of New GM Common Stock acquired pursuant to (i) the
Independent Fiduciary’s exercise of the Warrants, and (ii)
an adjustment, substitution, conversion or other modification
of New GM Common Stock in connection with a reorganization,
restructuring, recapitalization, merger, or similar corporate
transaction, provided that each holder of New GM Common Stock
is treated in an identical manner (collectively, the
Securities), transferred by New GM and deposited in the GM
Employer Security Sub-Account of the GM Separate Retiree
Account of the VEBA Trust; (2) the holding by the New Plan of
the Securities in the GM Employer Security Sub-Account of the
VEBA Trust; (3) the disposition of the Securities; (4) the
payment by Old GM, New GM, the Old GM Plan, the New Plan of a
benefit claim that was the responsibility and legal
obligation, under the terms of the applicable plan documents,
of one of the other parties listed in this paragraph; (5) the
reimbursement by Old GM, New GM, the Old GM Plan, the New UAW-GM
Retirees Plan or the New Plan of a benefit claim that was paid
by another party listed in this paragraph, which was not
legally responsible for the payment of such claim, plus
interest; and (6) the return to New GM of assets deposited or
transferred to the New Plan by mistake, plus interest. Also
permits, effective January 1, 2010 through April 10, 2010, the
acquisition and holding by the New Plan of Old GM senior
corporate debt held in the CCM Pension-C, LLC Fund managed by
Contrarian Capital Management, LLC. |
|
PTE
2010-31 |
D-11495 |
|
G:
75 FR 78758 (12/16/10) |
P:
75 FR 3067 (01/19/10) |
|
Deutsche Asset Management (UK) Limited
(DAM), et al.
Permits certain foreign exchange hedging
transactions that occurred between November 30, 2007 and May
30, 2008, inclusive between the Deutsche Bank Torus Japan
Master Portfolio, in which the assets of certain client
employee benefit plans (the Client Plans) were invested, and
DAM or its affiliates, a party in interest with respect to the
Client Plans. |
|
PTE
2010-32 |
D-11569 |
|
G:
75 FR 78762 (12/16/10) |
P:
75 FR 47639 (08/06/10) |
|
Sherburne Tele Systems, Inc. 2008 Amended
and Restated Employee Stock Ownership Plan and Trust (the
ESOP)
Permits the sale by the ESOP of all of its
shares of common stock in Sherburne Tele Systems, Inc. (the
Company), to the Company, a party in interest with respect to
the ESOP. |
|
PTE
2010-33 |
D-11573 |
|
G:
75 FR 78763 (12/16/10) |
P:
75 FR 33344 (06/11/10) |
|
Citigroup Global Markets, Inc. and Its
Affiliates (together, CGMI)
Replaces PTE 2009-12, with a new exemption
to reflect the terms of a joint venture (Joint Venture)
between Citigroup, Inc. (Citigroup) and Morgan Stanley under
which CGMI’s TRAK Program, a family of proprietary mutual
funds, was contributed to the Joint Venture by Citigroup on
May 31, 2009. PTE 2009-12, the most recent exemption in a line
of individual exemptions granted to CGMI and its predecessors,
relates to certain transactions occurring between CGMI and
employee benefit plans during the operation of the TRAK
Program. PTE 2009-12 is no longer effective due to a change in
the parties and the structure of the TRAK Program. The new
exemption provides the same relief with respect to the
transactions covered under PTE 2009-12. |
|
PTE
2010-34 |
D-11585 |
|
G:
75 FR 78766 (12/16/10) |
P:
75 FR 56571 (09/16/10) |
|
Retirement Plan for Employees of the
Rehabilitation Institute of Chicago (the Plan)
Permits (1) a series of interest-free
Advances in the aggregate amount of $701,117 (the Advances or
individually, an Advance), made to Hewitt Associates, LLC, the
Pension Benefit Guaranty Corporation, the Internal Revenue
Service, and Deloitte and Touche, LLP, during the period from
September 28, 2006, through June 2, 2009, by the
Rehabilitation Institute of Chicago (RIC), for the purpose of
paying certain expenses incurred on behalf of the Plan; and
(2) the reimbursement of such Advances in an amount not to
exceed $701,117 to RIC by the Plan in lump sums on an annual
or more frequent basis, where each such reimbursement occurred
at least sixty (60) days but no more than 365 days after the
date of each such Advance; provided that certain conditions
were satisfied. |
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Proposed Exemptions |
Proposal |
D-11603 -
D-11607 |
FR Citation: |
75 FR 56575 (09/16/10) |
Chrysler Group LLC (Chrysler Group) and Daimler AG
(Daimler)
Would permit the contribution (the Contribution) of
notes issued by Daimler (the Daimler Notes) by Chrysler Group to certain
employee benefit plans sponsored by the Chrysler Group (the Plans). The
proposal also exempts any extension of credit caused by the issuance by
Daimler of the Daimler Notes for purposes of the Contributions. The
terms of each Contribution will be consistent with the terms set forth
in a settlement agreement (the Settlement Agreement) involving, among
others, Chrysler Group, Daimler, and the Pension Benefit Guaranty
Corporation (the PBGC). Additionally, the fair market value of each
Daimler Note will be determined as of the date of the Contributions, by
a qualified independent appraiser, and each Daimler Note will represent
not more than 20% of the total fair market value of the assets of the
Plan that receives such Note at the time of the Contributions. |
|
Proposal |
D-11576 |
FR Citation: |
75 FR 61932 (10/06/10) |
Bank of America, N.A., et al. (BANA)
Would apply, effective January 1, 2009: (1) to the operation of the RPT Stable Value Agreements, pursuant to the terms thereof, and to the receipt of a fee by BANA in connection therewith; and (2) to transactions under the RPT Stable Value Agreements; (b) effective April 23, 2009: (1) to the execution of the RPT Special Purpose Wrap Agreement; (2) to the operation of the RPT Special Purpose Wrap Agreement, pursuant to the terms thereof, and to the receipt of a fee by BANA in connection therewith; and (3) to transactions under the RPT Special Purpose Wrap Agreement; and (c) effective January 1, 2009: (1) to the operation of the Separately Managed Account Wrap Agreements, pursuant to the terms thereof, and to the receipt of a fee by BANA in connection therewith; and (2) to transactions under the Separately Managed Account Wrap Agreements. |
|
Proposal |
D-11591 |
FR Citation: |
75 FR 61947 (10/06/10) |
Citigroup Inc. and Its Affiliates (Citigroup) and the Citigroup 401(k) Plan, et al. (collectively, the Plans)
Would permit, effective June 22, 2009, (1) the acquisition of stock rights (the Rights) by the Plans, in connection with their holding shares of Citigroup common stock (the Citigroup Stock) on the Record Date established pursuant to an offering of such Rights (the Offering), in accordance with the Tax Benefits Preservation Plan (the Rights Plan) by Citigroup, a party in interest with respect to the covered Plans, and/or the acquisition of Citigroup Stock and the attached Rights by the Plans in the future pursuant to the Offering; (2) the holding of the Rights by the Plans until the date the Plans exercise or otherwise dispose of the Rights or the expiration of such Rights in accordance with the terms and conditions of the Rights Plan, whichever is the earlier; and (3) the exercise or other disposition of the Rights by the Plans. |
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Proposal |
D-11592 |
|
FR Citation: |
75
FR 78768 (12/16/10) |
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TD Ameritrade, Inc. (TD Ameritrade)
Would apply, effective July 20, 2009, to
the sale of certain auction rate securities to TD Ameritrade,
Inc. by individual retirement accounts and employee benefit
plans for which the applicant acts as a broker, where the
sales are either (1) related to, and made in connection with a
settlement agreement (the Settlement Agreement) entered into
between the applicant and the U.S. Securities and Exchange
Commission, or (2) unrelated to, and not made in connection
with the Settlement Agreement. |
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Proposed Regulation |
Proposed
Regulation |
29
CFR Part 2570 |
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FR Citation: |
75
FR 53172 (08/30/10) |
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O:
75 FR 54542 (09/08/10) Notice of Technical Correction |
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This proposed regulation updates the procedure for
filing and processing applications for exemptions from the prohibited
transaction provisions of the Employee Retirement Income Security Act.
If adopted, the proposal would consolidate the existing policies and
guidance on the exemption process. The amended procedures would also
clarify the types of information and documentation required to submit a
complete filing, expand the methods for transmitting filings to include
electronic submissions, and make the exemptions more understandable for
participants and other interested parties.
The proposed exemption procedures retain the
section-by-section topical structure of the existing regulation. Among
the proposed changes are: (1) a requirement that applicants provide
interested persons with a brief objective summary of complex
transactions; (2) the consolidation of exemption policies and guidance
within a single document; (3) an updated description of the Department's
authority to propose and issue administrative exemptions on its own
motion; (4) a description of the current standards for obtaining
retroactive exemption relief; and (5) clarification of the content of
specialized statements, as needed, from qualified independent appraisers
and other relevant experts. Written comments on the proposed regulation
should be received by the Department of Labor on or before Oct. 14,
2010. |
Consumer Information
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