EMPLOYEE BENEFITS SECURITY ADMINISTRATION ISSUES NOTICE: EXEMPTION FOR CERTAIN UBS AG (UBS) ASSET MANAGERS LOCATED IN ZURICH, SWITZERLAND

WASHINGTON, May 4 -- Employee Benefits Security Administration has issued a notice called: Exemption for Certain UBS AG (UBS) Asset Managers Located in Zurich, Switzerland.

The notice was published in the Federal Register on May 4 by Christopher Motta, Acting Director, Office of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor.

Summary: This exemption allows current and future UBS-related asset managers to continue to rely on Prohibited Transaction Exemption (PTE) 84-14, from May 5, 2026, to May 5, 2035, if certain conditions are met, notwithstanding four convictions and one non-prosecution agreement involving affiliated entities of UBS.

For more information, contact Nicholas Schroth, Office o...