Regulation & law · 17/12/2007

Department of Labor Grants Exemptions to Several Companies for Prohibited Transactions Under ERISA and the Internal Revenue Code

The Department of Labor has issued exemptions to companies including BlackRock, Inc, Merrill Lynch & Co, and others, allowing them to avoid certain prohibited transaction restrictions under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986, following a public notice and comment period.