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Text of EBSA Prohibited Transaction Exemption for UBS Qualified Professional Asset Managers (QPAMs)
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] 
[Official Guidance] Feb. 22, 2019 65 pages. "This exemption will be in effect for one year from the date of the judgment in the French First Instance Court against UBS and/or UBS France.... This exemption also aims to ensure that Covered Plans can terminate relationships in an orderly and cost effective fashion in the event the fiduciary of a Covered Plan determines it is prudent to terminate the relationship with a UBS QPAM.... The Department cautions that the relief in this exemption will terminate immediately if an entity within the UBS corporate structure is convicted of a crime described in Section I(g) of PTE 84-14 (other than the Convictions and the 2019 French Judgment Against UBS/UBS France) during the Exemption Period." MORE >> |
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