DOL amends QPAM Exemption

In 2005, the DOL adopted amendments to the qualified professional asset manager (QPAM) exemption. During the 20+ years since the QPAM was originally issued, some of these conditions have proved to impose inappropriate compliance burdens on asset managers and those persons who transact with plans, es...

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Bibliographic Details
Published inBenefits law journal Vol. 19; no. 1; p. 76
Main Author Hamilton, Mark T
Format Journal Article
LanguageEnglish
Published New York Aspen Publishers, Inc 22.03.2006
Subjects
Compliance
Exemptions
Laws, regulations and rules
Pension fund management
Qualified benefit plans
United States > US
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Summary:In 2005, the DOL adopted amendments to the qualified professional asset manager (QPAM) exemption. During the 20+ years since the QPAM was originally issued, some of these conditions have proved to impose inappropriate compliance burdens on asset managers and those persons who transact with plans, especially in light of the significant consolidation occurring during the period in the financial services industry. Many of the new amendments simplify compliance with the QPAM Exemption. Accompanying tables point out the differences between the previous regulations and the current amendments to the QPAM Exemption.
ISSN:0897-7992