Labour market · 20/12/2023

TT International Asset Management Ltd Seeks Exemption from Prohibited Transaction Restrictions

TT International Asset Management Ltd (TTI) has submitted a proposed exemption to the US Department of Labor for certain prohibited transaction restrictions under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code of 1986 (the Code). The proposed exemption aims to allow TTI to rely on a specific exemption, despite a recent conviction of SMBC Nikko Securities, Inc. in Tokyo District Court.