Labour market · 21/06/2013

Proposed Amendments to Class Prohibited Transaction Exemptions To Remove Credit Ratings Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act

The Department of Labor is proposing amendments to several class prohibited transaction exemptions to remove references to credit ratings as standards of credit-worthiness, as required by the Dodd-Frank Act. The proposed changes would affect employee benefit plans, their fiduciaries, and financial institutions that engage with these plans.