Department of Labor Clarifies Interpretation of "Related" Under the QPAM Exemption

The U.S. Department of Labor recently issued an information letter, dated November 9, 2012 , in which it confirms that, for all purposes of determining what parties are "related" to a qualified professional asset manager under prohibited transaction class exemption 84-14 , only direct ownership interests, and not indirect ownership, should be ... (more)

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