Teresa Martland

Foley Hoag LLP

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QPAM Amendment – Action Required by Investment Managers

The U.S. Department of Labor (“DOL”) has amended the qualified professional asset manager (“QPAM”) class prohibited transaction exemption 84-14 (“QPAM Exemption”), effective as of June 17, 2024 (“QPAM Amendment”)....more

4/25/2024 / Amended Regulation , Asset Management , Department of Labor (DOL) , Exemptions , Investment Management , Non-Prosecution Agreements , Prohibited Transactions , Recordkeeping Requirements , Regulatory Agenda , Threshold Requirements

DOL Issues Proposed Amendment to QPAM Exemption

The Department of Labor (“DOL”) recently issued a proposed amendment to prohibited transaction class exemption 84-14 (the “QPAM Exemption”). The QPAM Exemption permits an investment fund managed by a qualified professional...more

8/26/2022 / Asset Management , Department of Labor (DOL) , Exemptions , Investment Funds , Investment Management , Proposed Amendments , QPAM , Recordkeeping Requirements , Reporting Requirements

DOL Reinstates Five-Part-Test for Investment Advice Fiduciaries and Proposes New Exemption

After several years of uncertainty as to the appropriate standard for determining when an investment adviser will be deemed to be a fiduciary under ERISA, the U.S. Department of Labor (the “DOL”) has finally issued clear...more

8/17/2020 / Department of Labor (DOL) , Employee Retirement Income Security Act (ERISA) , Exemptions , Fiduciary Duty , Financial Institutions , Five-Part Test , Investment Adviser , Investors

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