• DOL Opines on Scope of PTE 86-128
  • July 11, 2011
  • Law Firm: Sutherland Asbill Brennan LLP - Washington Office
  • In Advisory Opinion 2011-08A (June 21, 2011), the U.S. Department of Labor (DOL) concluded that ERISA “investment advice” fiduciaries are within the scope of Prohibited Transaction Exemption (PTE) 86-128, thus confirming the availability of conditional relief for such a fiduciary (or an affiliate) to effect securities transactions or cross trades for a fee as an agent for an ERISA plan.