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.
UBS Assets Management Inc.; UBS Realty Investors LLC; UBS Hedge Fund Solutions LLC; UBS O’Connor LLC; and Certain Future Affiliates in the UBS AG (UBS) Asset Management and Global Wealth Management U.S. Divisions
Permits certain entities with specified relationships to UBS, to continue to rely upon the relief provided by Prohibited Transaction Exemption 84-14, notwithstanding the 2013 Conviction of UBS Securities Japan Co., Ltd., the 2018 Conviction of UBS, and the 2019 French Judgment Against UBS/UBS France.
Retirement Clearinghouse, LLC (RCH)
Permits the receipt of a Transfer Fee, as defined in Section III(i) of the exemption, by RCH in connection with the transfer of assets from an individual’s Default IRA, as defined in Section III(h) of the exemption, to the individual’s New Plan Account, as defined in Section III(a) of the exemption, following the individual’s nonresponse to two letters informing the individual that the assets will be transferred if he or she fails to contact RCH within the later of: Sixty days of the first letter; or thirty days of the second letter. Relief under this exemption is solely available for the payment of a Transfer Fee by a Default IRA to RCH in connection with the transfer of $5,000 or less from the Default IRA to a New Plan Account, pursuant to either a Default IRA Model Transfer, as defined in Section III(l) of the exemption or a Conduit Model Transfer, as defined in Section III(k) of the exemption.
The Les Schwab Tire Centers of Washington, Inc., the Les Schwab Tire Centers of Boise, Inc., and the Les Schwab Tire Centers of Portland, Inc. (collectively, with their Affiliates, Les Schwab)
Permits the sales by the Les Schwab Profit Sharing Retirement Plan (the Plan) of certain parcels of real property to Les Schwab, where Les Schwab is a party in interest with respect to the Plan.
Principal Life Insurance Company (PLIC) and its Affiliates (collectively, Principal)
Permits the direct or indirect acquisition, holding, and disposition of common stock issued by Principal Financial Group, Inc. (PFG), and/or common stock issued by an affiliate of PFG, by index funds and model-driven funds that are managed by PLIC, an indirectly wholly-owned subsidiary of PFG, or an affiliate of Principal, in which client plans of Principal invest.
Seventy Seven Energy Inc. Retirement & Savings Plan (the Plan)
Effective August 1, 2016 through April 20, 2017, permits: (1) the acquisition by participant accounts in the Plan of warrants (the Warrants) issued by Seventy Seven Energy, Inc. (SSE), the Plan sponsor, in connection with SSE’s bankruptcy; and (2) the holding of the Warrants by the Plan.
Tidewater Savings and Retirement Plan (the Plan)
Effective July 31, 2017, permits: (1) the acquisition, by certain participant-directed accounts (the Accounts) in the Plan, of Series A Warrants and Series B Warrants (together, the Equity Warrants), issued by Tidewater Inc., the Plan sponsor and a party in interest with respect to the Plan; and (2) the holding of the Equity Warrants by the Accounts.
Credit Suisse Group AG and Its Current and Future Affiliates, Including Credit Suisse AG (CSAG) (collectively, Credit Suisse)
Permits certain entities with specified relationships to Credit Suisse, to continue to rely upon the relief provided by Prohibited Transaction Exemption (PTE) 84-14, notwithstanding the 2014 Conviction of CSAG, and the expiration of a one-year exemption, PTE 2014-11 (79 FR 53365, November 18, 2014), and a five-year exemption, PTE 2015-14 (79 FR 68716, October 2, 2015).
UBS Asset Management (Americas) Inc.; UBS Realty Investors LLC; UBS Hedge Fund Solutions LLC; UBS O’Connor LLC; and Certain Future Affiliates in UBS’s Asset Management and Global Wealth Management U.S. Divisions
If granted, the proposed five-year exemption would permit certain entities with specified relationships to UBS (i.e., UBS QPAMs) to continue to rely on the exemptive relief provided by Prohibited Transaction Exemption (PTE) 84-14 for a period of up to five years, beginning on February 20, 2020, notwithstanding the 2013 Conviction of UBS Securities Japan Co., Ltd., the 2018 Conviction of UBS, and the 2019 French Conviction of UBS and UBS France.