Prior exemptions may not reflect current policies or procedures. The Department, for example, may require terms and conditions that were not required in prior exemptions. Persons considering filing for an exemption or EXPRO authorization may find it very helpful to discuss the facts or issues in their cases with the Department before preparing the filing. The Department welcomes all inquiries and is available to answer any questions you may have. Call us at 202-693-8540.
Grant Notices
PTE 2025-01; D-12084
G: 90 FR 2748 (01/13/25)
P: 89 FR 79953 (10/01/24)
United Brotherhood of Carpenters and Joiners of America (UBC)
This exemption permits the sale of certain improved real property located in Las Vegas, NV by the United Brotherhood of Carpenters Pension Fund (the Plan) to the UBC, the Plan sponsor.
PTE 2025-02; D-12073
G: 90 FR 3947 (01/15/25)
P: 89 FR 56422 (07/09/24)
Memorial Sloan Kettering Cancer Center (MSKCC)
This exemption permits the reinsurance of risks and the receipt of a premium by MSK Insurance US, Inc., a captive insurance and reinsurance subsidiary that is wholly owned by MSKCC, in connection with a single premium group insurance contract sold by an unrelated fronting insurer to provide pension annuities to Memorial Sloan Kettering Cancer Center Pension Plan participants and beneficiaries.
PTE 2025-03; D-12098
G: 90 FR 3929 (01/15/25)
P: 89 FR 49213 (06/11/24)
Notice of Comment Period Extension: 89 FR 58189 (07/17/24)
UBS AG (UBS)
The Department previously issued an individual prohibited transaction exemption (PTE) 2023-14 that allowed certain asset managers related to UBS and Credit Suisse Group AG (CSAG) to continue to rely on the exemptive relief provided by PTE 84-14 for one year following UBS’ acquisition of CSAG. This exemption permits current and future asset managers under the UBS corporate umbrella to continue to rely on PTE 84-14 from June 12, 2024, to June 11, 2029, notwithstanding the five judgments of conviction involving entities within the UBS and CSAG corporate umbrellas.
PTE 2025-04; L-12069
G: 90 FR 3923 (01/15/25)
P: 89 FR 87600 (11/04/24)
Boilermakers Western States Apprenticeship Fund (the Plan)
This exemption permits the purchase of a parcel of improved real property by the Plan from a local union lodge whose members may be participants in the Plan. The Plan requests the exemption in order to continue to utilize the property to carry out its training program and its administrative duties.
Proposed Exemptions
D-12102
Royal Bank of Canada (RBC)
If granted, this proposed exemption would permit certain qualified professional asset managers with specified relationships to Royal Bank of Canada Trust Company (Bahamas) Limited (RBCTC Bahamas), and certain current and future affiliates of RBC, to continue to rely on the class exemptive relief granted in Prohibited Transaction Exemption (PTE) 84–14, notwithstanding the March 5, 2024 judgment of conviction against RBCTC Bahamas for aiding and abetting tax fraud, entered in France in the Paris Court of Appeal.
D-12101
Northern Trust Corporation
If granted, this proposed exemption would permit certain entities with specified relationships to Northern Trust Fiduciary Services (Guernsey) Limited (NTFS) to continue to rely on the exemptive relief provided by Prohibited Transaction Class Exemption 84–14, notwithstanding the March 5, 2024 judgment of conviction against NTFS for aiding and abetting tax fraud, entered in France in the Paris Court of Appeal.
Amendments for Prior Year Grants
PTE 2016-10; D-12113 and D-11868
O: 90 FR 11330 (03/05/25) Notice of Amendment
O: 90 FR 10087 (02/21/25) Notice of Proposed Amendment
O: 88 FR 85931 (12/11/23) Notice of Technical Correction
G: 81 FR 75147 (10/28/16)
P: 81 FR 70562 (10/12/16)
Royal Bank of Canada (Together With Its Current and Future Affiliates, RBC)
This amendment extends the effective period of PTE 2016-10, which expires on March 4, 2025, for up to six months if RBC meets certain conditions.
PTE 2016-11; D-12112 and D-11875
O: 90 FR 11330 (03/05/25) Notice of Amendment
O: 90 FR 10087 (02/21/25) Notice of Proposed Amendment
O: 89 FR 23612 (04/04/24) Notice of Technical Correction
G: 81 FR 75150 (10/28/16)
P: 81 FR 70569 (10/12/16)
Northern Trust Corporation (Together With Its Current and Future Affiliates, Northern)
This amendment extends the effective period of PTE 2016-11, which expires on March 4, 2025, for up to six months if Northern meets certain conditions.