EMPLOYEE BENEFITS SECURITY ADMINISTRATION ISSUES NOTICE: PROPOSED EXEMPTION FROM CERTAIN PROHIBITED TRANSACTION RESTRICTIONS FOR CERTAIN ASSET MANAGERS RELATED TO UBS AG (UBS) LOCATED IN ZURICH, SWITZERLAND

WASHINGTON, Feb. 26 -- Employee Benefits Security Administration has issued a notice called: Proposed Exemption From Certain Prohibited Transaction Restrictions for Certain Asset Managers Related to UBS AG (UBS) Located in Zurich, Switzerland.

The notice was published in the Federal Register on Feb. 26 by Christopher Motta, Acting Director, Office of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor.

Summary: If granted, this proposed exemption would allow certain current and future UBS-related asset managers to rely on Prohibited Transaction Exemption (PTE) 84-14 until May 4, 2031, if certain conditions are met, notwithstanding four judgments of conviction and one non-prosecution agreement invo...