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A group of financial trade associations requested an extension to a comment deadline on proposed amendments to a Prohibited Transaction Class Exemption ("QPAM"). The exemption allows qualified registered investment advisers, banks, savings and loans and insurance companies to engage in otherwise prohibited transactions related to ERISA plan assets.

In a response to a Request for Information, SIFMA urged the Department of Labor to continue using a principles-based approach to regulation and expressed concern that its proposed method for compliance with E.O. 14030 may deviate too far from that approach.