Notice of Proposed Exemption Involving Credit Suisse AG Located in Zurich, Switzerland

Zusammenfassung

This document contains a notice of pendency before the Department of Labor (the Department) of a proposed exemption from certain prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974, as amended (ERISA or the Act), and the Internal Revenue Code of 1986, as amended (the Code). This proposed exemption was developed by the Department on its own motion. If granted, the proposed exemption would increase, from one year to ten years, the period during which certain entities with specified relationships to Credit Suisse AG (hereinafter, Credit Suisse Affiliated QPAMs and Credit Suisse Related QPAMs) may rely on prohibited transaction class exemption (PTE) 84-14. Effective Date: If granted, this proposed exemption will be effective for the period of time starting on the date a final exemption, if any, is published in the Federal Exemption, and ending on the date that is ten years following the date a judgment of conviction against Credit Suisse AG for one count of conspiracy to violate section 7206(2) of the Internal Revenue Code in violation of Title 18, United States Code, Section 371 (the Conviction) is entered in the District Court for the Eastern Di