July 30, 2007
Previously published on September 2006
The recently enacted Pension Protection Act of 2006
(the "Act") has positive implications for securities
lending practitioners, although the specifics will need
to await further clarification and guidance from the
Department of Labor. One of the significant changes
made by the Act relates to ERISA (and Internal
Revenue Code) prohibited transaction rules and,
particularly, the service-provider exemption.
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