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QPAM Clock Is Ticking for Five Banks That Handle Retirement Money
Bloomberg BNA Link to more items from this source
Oct. 27, 2017
"Deutsche Bank AG, Citigroup Inc., UBS Assets Management, JPMorgan Chase & Co., and Barclays Capital Inc. will all need the [DOL's] approval by early next year to keep operating as 'qualified professional asset managers.' The five banks ... [provide] services to millions of retirement savers and [manage] billions of dollars in plan assets. The [DOL] a year ago granted temporary exemptions allowing the five banks to continue operating as QPAMs, and those waivers are about to run out."

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