Amendments to Class Exemption for Certain Transactions

This document is about amendments to a class exemption (Prohibited Transaction Exemption 77-9) that provide an exemption from the prohibited transaction restrictions of the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code for certain transactions involving insurance agents and brokers, pension consultants, insurance companies, investment companies and investment company principal underwriters. The amendments clarify the availability of the exemption for nondiscretionary trustees and custodians, define "nondiscretionary trust services", and describe the conditions under which the exemption applies.