Labour market · 21/07/1997

Amendment to Prohibited Transaction Exemptions (PTEs) 90-30 Involving Bear, Stearns & Co. Inc., 90-32 Involving Prudential Securities Incorporated, et al.

The Department of Labor has issued a final exemption amendment to the Underwriter Exemptions, which provide relief for asset pool investment trusts and asset-backed pass-through certificates. The amendment applies retroactively to transactions involving pre-funding accounts that occurred on or after January 1, 1992, and includes changes to the definition of 'Trust' and 'Certificate'.