Guest gkare Posted April 30, 2004 Posted April 30, 2004 Are there any regulations (SEC / ERISA) that prohibit a bank to act as trustee for DC & DB plans of a publicly traded company that the majority owner is also majority owner of the privately held bank?
QDROphile Posted April 30, 2004 Posted April 30, 2004 Sounds like Mr. Owner or the bank can hire a lawyer to advise on this issue.
jquazza Posted April 30, 2004 Posted April 30, 2004 I don't know much about SEC rules, but as far as prohibited transactions under ERISA and the Code are concerned, I am pretty sure there is a PTE that addresses just that. /JPQ
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