Prior exemptions may not reflect current policies or procedures. The Department, for example, may require terms and conditions that were not required in prior exemptions. Persons considering filing for an exemption or EXPRO authorization may find it very helpful to discuss the facts or issues in their cases with the Department before preparing the filing. The Department welcomes all inquiries and is available to answer any questions you may have. Call us at 202-693-8540.
PTE 2007-01; D-11183
G: 72 FR 3160 (01/24/07)
P: 71 FR 48768 (08/21/06)
Plumbers & Pipefitters National Pension Fund (the Fund)
Permits, effective June 5, 2001, the following transactions involving the receipt by Diplomat Properties, Limited Partnership (the Partnership) of certain services and products from the hotel management company, Westin Management East (after January 12, 2006, Westin Hotel Management, L.P.) (referred to collectively with its parent company, Starwood Hotels & Resorts Worldwide, Inc., as Starwood) and certain related entities (Related Companies), retained to operate the Partnership’s principal asset, the Westin Diplomat Resort & Spa (collectively, Resort): (a) the provision of Centralized Services or Additional Services to the Resort by Starwood or a Related Company; (b) the purchase of goods from Starwood or a Related Company in connection with the provision of Centralized Services or Additional Services; and (c) the participation of the Resort in the Associate Room Discount Program.
PTE 2007-02; L-11148, D-11149, L-11150, L-11151, D-11152 and D-11153
G: 72 FR 3164 (01/24/07)
P: 71 FR 41478 (07/21/06)
American Maritime Officers Safety & Education Plan (the S&E Plan); American Maritime Officers Pension Plan (the Pension Plan); American Maritime Officers Vacation Plan (the Vacation Plan); American Maritime Officers Medical Plan (the Medical Plan); and American Maritime Officers 401(k) Plan (the 401(k) Plan; collectively, the AMO Plans)
Permits the following transactions: (1) the S&E Plan entering into an arrangement with the American Maritime Officers (the Union), which is a party in interest with respect to the AMO Plans, for the Union to pay the S&E Plan, where appropriate and at the rate established by the independent fiduciary (the I/F), for the portion of the Union trustees’ food and lodging provided by the S&E Plan that is attributable to attendance at certain Union meetings at the Dania Beach, Florida and the Toledo, Ohio facilities (collectively, the Facilities); (2) the S&E Plan entering into an arrangement with the Union and certain contributing employers, who are parties in interest with respect to the AMO Plans, to pay the S&E Plan at a rate established by the I/F, for food and lodging provided by the S&E Plan at the Facilities for the representatives of the Union and the respective contributing employers that is attributable to attendance at various conferences; and (3) the S&E Plan entering into an arrangement with the governing bodies of the American Maritime Officers Joint Employment Committee (the JEC), and the American Maritime Officers Service (AMOS), who are parties in interest with respect to the AMO Plans, to pay the S&E Plan at a rate established by the I/F for food and lodging provided by the S&E Plan at the Facilities.
Also permits (1) the AMO Plans to share expenses based on an internal expense allocation model (the Allocation Model) for the provision of food and lodging by the S&E Plan at the Facilities to the AMO Plans’ trustees; and (2) the AMO Plans, the JEC and AMOS sharing expenses based on the Allocation Model for the provision of food and lodging by the S&E Plan at the Facilities.
Finally, this exemption permits (1) contributing employers contracting with the S&E Plan to provide one of its courses at a special time; and (2) the S&E Plan designing training programs or undertaking special research or modeling tailored to the needs of a particular contributing employer or its vessels.
PTE 2007-03; D-11381
G: 72 FR 6595 (02/12/07)
P: 71 FR 67904 (11/24/06)
Bear Stearns Companies, Inc. (BS), Bear Stearns Asset Management, Inc., and Bear, Stearns & Co., Inc.
Permits the purchase of certain securities (the Securities), by an asset management affiliate of BS from any person other than such asset management affiliate of BS or any affiliate thereof, during the existence of an underwriting or selling syndicate with respect to such Securities, where a broker-dealer affiliated with BS is a manager or member of such syndicate and the asset management affiliate of BS purchases such Securities, as a fiduciary: (a) on behalf of an employee benefit plan or employee benefit plans (the Client Plan(s)); or (b) on behalf of Client Plans, and/or in house plans which are invested in a pooled fund or in pooled funds.
PTE 2007-04; D-11342 and D-11370
G: 72 FR 13126 (03/20/07)
O: 72 FR 35745 (06/29/07)(Notice of Tech. Corr.)
P: 71 FR 48781 (08/21/06)
Mellon Financial Corporation (Mellon)
Permits, effective November 30, 2005, certain in kind redemptions by the Mellon 401(k) Retirement Savings Plan or by any other employee benefit plan sponsored by Mellon or an affiliate (the Plan(s)), of shares of certain proprietary mutual funds in which the Plans were invested as of November 30, 2005, for which Mellon or an affiliate provides investment advisory and other services.
PTE 2007-05; D-11370
G: 72 FR 13130 (03/20/07)
O: 72 FR 16385 (04/04/07)
P: 72 FR 3152 (01/24/07)
Amendment to Prohibited Transaction Exemption (PTE) 2000-58, 65 FR 67765 (November 13, 2000) and PTE 2002-41, 67 FR 54487 (August 22, 2002) Involving Bear, Stearns & Co. Inc., Prudential Securities Incorporated, et al. to Add Dominion Bond Rating Service Limited (DBRS Limited) and Dominion Bond Rating Service, Inc. (DBRS, Inc.) to the Definition of “Rating Agency”
Permits the purchase of certain securities (the Securities), by an asset management affiliate of BS from any person other than such asset management affiliate of BS or any affiliate thereof, during the existence of an underwriting or selling syndicate with respect to such Securities, where a broker-dealer affiliated with BS is a manager or member of such syndicate and the asset management affiliate of BS purchases such Securities, as a fiduciary: (a) on behalf of an employee benefit plan or employee benefit plans (the Client Plan(s)); or (b) on behalf of Client Plans, and/or in house plans which are invested in a pooled fund or in pooled funds.
PTE 2007-06; L-11383, L-11384 and D-11385
G: 72 FR 21300 (04/30/07)
P: 72 FR 6760 (02/13/07)
Kern County Electrical Pension Trust (the Pension Plan); Kern County Electrical Joint Apprenticeship and Training Trust (the Apprenticeship Plan); Kern County Electrical Health and Welfare Plan (the Welfare Plan); and The International Brotherhood of Electrical Workers Local Union 428 (the Local Union)
Permits (1) the sale by the Pension Plan of a parcel of unimproved real property (Parcel #1) to the Local Union, a party in interest with respect to the Pension Plan; (2) the sale to the Apprenticeship Plan by the Pension Plan of a parcel of unimproved real property (Parcel #2) which is adjacent to Parcel #1; and (3) the lease by the Apprenticeship Plan of office space in a training facility to be constructed by the Apprenticeship Plan on Parcel #2 to Construction Benefits Administration, a party in interest with respect to the Plans, as service provider, whose directors are also trustees of the Plans and officers of the Local Union.
PTE 2007-07; L-11302 and L-11303
G: 72 FR 21301 (04/30/07)
P: 72 FR 6766 (02/13/07)
OPET Health Care and Life Insurance Plans RM3A and RM5A; and OPET Prescription Drug Plan RRx (collectively, the Plans)
Permits the purchase by the Plans’ participants and beneficiaries of prescription drugs from the Labor Center Pharmacy, a party in interest with respect to the Plans.
PTE 2007-08; D-11345
G: 72 FR 36045 (07/02/07)
P: 72 FR 13519 (03/22/07)
Grant of Individual Exemption to Amend and Replace Prohibited Transaction Exemption (PTE) 2000-34, Involving the Fidelity Mutual Life Insurance Company (FML)
Amends and replaces PTE 2000-34 which permits (1) the receipt of certain stock issued by Fidelity Insurance Group, Inc. a wholly-owned subsidiary of FML, or (2) the receipt of plan credits, by or on behalf of an FML mutual member (the Mutual Member), which is an employee benefit plan other than the Employee Pension Plan of Fidelity Mutual Life Insurance Company, in exchange for such Mutual Member’s membership interest in FML, in accordance with the terms of a plan of rehabilitation (the Third Amended Plan), approved by the Pennsylvania Commonwealth Court and a rehabilitator appointed by the Pennsylvania Insurance Commissioner. The exemption incorporates by reference many of the conditions contained in PTE 2000-34. It also revises and updates certain facts and representations set forth in PTE 2000-34 to include certain alternatives under the Fourth Amended Plan of Rehabilitation which supersedes the Third Amended Plan upon which PTE 2000-34 is based.
PTE 2007-09; D-11408
G: 72 FR 36045 (07/02/07)
P: 72 FR 13517 (03/22/07)
The DeRose Dental Offices, Inc. S.C. Profit Sharing Plan (the Plan)
Permits the December 29, 2006 sale by the Plan of 2,174 shares of stock in Wisconsin Bancshares, Inc. each to Francesca DeRose and Nicolet DeRose, parties in interest with respect to the Plan.
PTE 2007-10; D-11393 and D-11394
G: 72 FR 42129 (08/01/07)
O: 72 FR 31610 (06/07/07)(Notice of Tech. Corr.)
P: 72 FR 30637 (06/01/07)
Paul Niednagel IRAs and Lynne Niednagel IRAs
Permits the purchase by the respective IRAs of Paul and Lynne Niednagel (the Account Holders) of certain ownership interests (the Units) from Pacific Island Investment Partners, LLC (the issuer of the Units), an entity which is indirectly controlled by Daniel and Stephen Niednagel, both of whom are lineal descendants of the Account Holders and therefore disqualified persons with respect to the IRAs.
PTE 2007-11; D-11406
G: 72 FR 42130 (08/01/07)
P: 72 FR 21303 (04/30/07)
The Revlon Employees Savings, Investment and Profit Sharing Plan (the Plan)
Permits, effective December 18, 2006, (1) the acquisition of certain stock rights (the Stock Rights) by the Plan in connection with a Stock Rights offering by Revlon, Inc. (Revlon), a holding company that wholly owns Revlon Consumer Products Corporation, a party in interest with respect to the Plan; (2) the holding of the Stock Rights by the Plan during the subscription period of the Stock Rights offering; and (3) the disposition or exercise of the Stock Rights by the Plan.
PTE 2007-12; L-11365
G: 72 FR 42130 (08/01/07)
P: 72 FR 21305 (04/30/07)
American Maritime Officers Safety & Education Plan (the S&E Plan)
Permits the S&E Plan doing business as STAR Center, entering into an agreement with Kongsberg Maritime Simulator Inc. (Kongsberg), a party in interest, to provide certain services to Kongsberg at the Dania Beach, Florida facility involving hydrodynamic and geographical modeling and training.
PTE 2007-13; L-11382
G: 72 FR 42131 (08/01/07)
P: 72 FR 30635 (06/01/07)
Sheet Metal Workers Local Union 17 Insurance Fund (the Fund)
Permits the purchase by the Fund of a business condominium from the Sheet Metal Workers International Association Local 17 Building Association, Inc., a party in interest with respect to the Fund.
PTE 2007-14; D-11272
G: 72 FR 51467 (09/07/07)
P: 72 FR 36048 (07/02/07)
Wells Fargo & Company (WFC)
Permits the purchase of certain securities (the Securities) by an asset management affiliate of WFC, from any person other than such asset management affiliate of WFC or any affiliate thereof, during the existence of an underwriting or selling syndicate with respect to such Securities, where a broker-dealer affiliated with WFC is a manager or member of such syndicate and the asset management affiliate of WFC purchases such Securities as a fiduciary (1) on behalf of an employee benefit plan or employee benefit plans (the Client Plans); or (2) on behalf of Client Plans, and/or In-House plans which are invested in a pooled fund or in pooled funds.
PTE 2007-15; D-11340
G: 72 FR 51472 (09/07/07)
P: 72 FR 30633 (06/01/07)
Hawaii Emergency Physicians Associated, Inc. Profit Sharing Plan (the Plan)
Permits the sale by the Plan to 407 Partners LLC, a limited liability corporation and a party in interest to the Plan, of a parcel of improved real property located in Kailua, Hawaii.
PTE 2007-16; D-11344
G: 72 FR 51473 (09/07/07)
P: 72 FR 21302 (04/30/07)
Victor P. Olson Profit Sharing Plan (the Plan)
Permits the proposed cash sale of a parcel of improved real property by the Plan to Victor P. Olson, a party in interest with respect to the Plan.
PTE 2007-17; D-11390
G: 72 FR 71438 (12/17/07)
P: 72 FR 36059 (07/02/07)
BSC Services Corp. 401(k) Profit Sharing Plan (the Plan)
Permits, effective April 27, 2006, the (1) acquisition by the Plan of certain stock rights (the Rights) pursuant to a stock rights offering (the Offering) from First Bank of Delaware, a party in interest and the parent company of BSC Services Corp., which is the Plan sponsor as well as a party in interest with respect to the Plan; (2) the holding of the Rights by the Plan during the subscription period of the Offering; and (3) the disposition or exercise of the Rights by the Plan.
PTE 2007-18; D-11402 and D-11403
G: 72 FR 71438 (12/17/07)
P: 72 FR 36058 (07/02/07)
Owens Corning Savings Plan and Owens Corning Savings and Security Plan (collectively, the Plans)
Permits, effective October 31, 2006, the (1) acquisition by the Plans of certain warrants (the Warrants) issued by Owens Corning (the Applicant), a party in interest with respect to the Plans, where such Warrants have been issued in exchange for the common stock of the Applicant incident to a bankruptcy reorganization; (2) the holding of the Warrants by each of the Plans pending the exercise or other disposition of said Warrants; and (3) the exercise of the Warrants by participants in the Plans to permit the acquisition of shares of the Applicant’s new common stock.
PTE 2007-19; D-11405
G: 72 FR 71440 (12/17/07)
P: 72 FR 60904 (10/26/07)
Middleburg Trust Company (Middleburg)
Permits, the past sale, on March 28, 2006, by the William T. Smith IRA (the IRA) of certain bonds to Middleburg, a disqualified person with respect to the IRA.
PTE 2007-20; D-11420
G: 72 FR 71440 (12/17/07)
P: 72 FR 51675 (09/10/07)
BlackRock, Inc. (BlackRock), and Merrill Lynch & Co. (Merrill Lynch) (collectively, the Applicants)
Permits, effective September 10, 2007, the purchase of certain securities (the Securities) by an Asset Manager, from any person other than a Merrill Lynch/BlackRock Related Entity or Entities, during the existence of an underwriting or selling syndicate with respect to such Securities, where a Merrill Lynch/BlackRock Related Broker-Dealer 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 2007-21; D-11411
G: 72 FR 71446 (12/17/07)
P: 72 FR 60890 (10/26/07)
Gastroenterology and Oncology Associates, P.A. Profit Sharing Plan and Trust (the Plan)
Permits the sale of certain shares of common stock (the Stock) issued by Alden Enterprises, Inc., an unrelated party, by the individually directed account in the Plan of Jayaprakash K. Kamath, M.D. (Dr. Kamath), to Geetha J. Kamath, M.D., Dr. Kamath’s spouse and a party in interest with respect to the Plan.
Withdrawal of Proposed Exemption
Proposal; D-11324
FR Citation: 72 FR 6748 (02/13/07)
O: 72 FR 42129 (08/01/07)(Withdrawal Notice)
Deutsche Bank AG (DB)
Would permit (a) the purchase of certain securities (the Securities) by an asset management affiliate of DB from any person other than such asset management affiliate of DB or any affiliate thereof, during the existence of an underwriting or selling syndicate with respect to such Securities, where a broker dealer affiliated with DB is a manager or member of such syndicate and the asset management affiliate of DB purchases such Securities, as a fiduciary on behalf of the plans listed below in (b)(1)-(3); and (b) the purchase of Securities by an asset management affiliate of DB from any person other than such asset management affiliate of DB or any affiliate thereof, where a trustee affiliated with DB serves as a trustee of a trust that issued the Securities (whether or not such Securities are debt securities) or serves as an indenture trustee of Securities that are debt securities and where the asset management affiliate of DB purchases such Securities for (1) Client Plans and/or Master Trusts; or (2) Client Plans, Master Trusts, and/or In House Plans which are invested in Pooled Funds; or (3) Client Plans, Master Trusts, and/or In-House Plans which are invested in Advised Funds.
Proposed Exemptions
Proposal; D-11369
FR Citation: 72 FR 30634 (06/01/07)
The Swedish Health Services Pension Plan (the Plan)
Would permit, effective April 14, 2005, two contributions in kind to the Plan of securities made on April 14th and 15th, 2005 by Swedish Health Services, the Plan sponsor, a party in interest with respect to the Plan.
Proposal; D-11343
FR Citation: 72 FR 60891 (10/26/07)
Wellington Management Company, LLP (Wellington Management) and Its Subsidiaries (together, Wellington)
Would permit, (1) retroactively, from January 1, 2001 through December 31, 2003, and (2) prospectively, from the date the notice granting the final exemption is published in the Federal Register, (A) the acquisition, from an offshore corporation (the Offshore Corporation) of certain non-voting equity securities, which represent interests in the economic value of the Offshore Corporation by an ERISA-covered client plan (the Client Plan), where the Offshore Corporation is a party in interest with respect to the Client Plan, due to the ownership of all of the voting equity shares of the Offshore Corporation by Wellington Global Administrator, Ltd., a subsidiary of Wellington Management, which is (or may become) a fiduciary and a service provider with respect to the Client Plan; and (B) the redemption of the Client Plan’s Shares by the Offshore Corporation either in cash or in kind.
Proposal; D-11389
FR Citation: FR 60899 (10/26/07)
GE Asset Management Incorporated (GEAM)
Would permit, effective March 1, 2006, certain in-kind redemptions by plans sponsored by the General Electric Company (GE) or an affiliate, of shares of certain proprietary mutual funds for which GEAM provides investment advisory and other services.
Proposal; D-11417
FR Citation: 72 FR 60905 (10/26/07)
Citigroup, Inc. (Citigroup)
Would permit the receipt of services at reduced or no cost by an individual for whose benefit an IRA or, if self-employed, a Keogh Plan, is established or maintained, or by members of his or her family, from Citigroup pursuant to an arrangement in which the account value of, or the fees incurred for services provided to, the IRA or Keogh Plan is taken into account for purposes of determining eligibility to receive such services.