QPAM Exemption definition
Examples of QPAM Exemption in a sentence
QPAM Exemption The DOL adopted an amendment to ERISA prohibited transaction exemption 84-14 (the "QPAM Exemption"), expanding the coverage of the exemption to include in-house pension and other employee benefit plans maintained by investment advisers for their own employees.
Neither the Company nor any of its affiliates (as defined in Section VI(d) of Prohibited Transaction Class Exemption 84-14 issued by the Department of Labor (the “QPAM Exemption”)) fails to satisfy the conditions set forth in Part I(g) of the QPAM Exemption.
According to TTI, ineligibility under the QPAM Exemption would deprive Covered Plans of the investment management services that they expected to receive when they appointed TTI.
The Company and its Subsidiaries are not disqualified from relying on the QPAM Exemption with respect to transactions managed by the Company and its Subsidiaries due to the application of Section I(g) of the QPAM Exemption.
We also note that the Department previously acknowledged, when proposing the QPAM Exemption in 1982, that there is less concern about failures to conform to ERISA’s general fiduciary standards where the decision to enter into the transaction is made by an independent fiduciary.31 II.