"This article analyzes the origins and purposes of the Sole Responsibility Requirement and how it applies in the context of arrangements between banks and investment advisers with respect to CITs. It suggests that, provided certain basic guidelines are followed, the Sole Responsibility Requirement can be reconciled and be consistent with the Bank Maintained Requirement. Consequently, banks and their advisers that adhere to certain basic guidelines consistent with the intent and purposes of the Exemption generally should be entitled to rely on the Exemption for transactions with parties in interest of plans participating in their CITs."  MORE >>