Proposed Class Exemption To Permit Certain Loans of Securities by Employee Benefit Plans

Riepilogo

This document contains a notice of pendency before the Department of Labor (the Department) of a proposed amendment to PTE 81- 6 and a proposed restatement of PTE 82-63. If granted, the proposed exemption would amend and replace Prohibited Transaction Exemption (PTE) 81-6 (46 FR 7527, January 23, 1981) which exempts the lending of securities by employee benefit plans to certain banks and broker- dealers, and would replace PTE 82-63 (47 FR 14804, April 6, 1982), which exempts certain compensation arrangements for the provision of securities lending services by a plan fiduciary to an employee benefit plan. The class exemption proposed in this notice, if granted, would incorporate PTEs 81-6 and 82-63 and expand those class exemptions to additional parties, subject to modified conditions. If granted, the proposed exemption would affect participants and beneficiaries of employee benefit plans, persons who lend securities on behalf of such plans, and parties in interest who engage in securities lending transactions with such plans.