Notice
21 Feb 2025
business compliance, department of labor, financial regulation, northern trust, employee benefits security administration, prohibited transaction exemptions, rbc
📈Proposed Amendments for RBC and Northern Trust PTEs Explained
The Department of Labor (the Department) is proposing to extend the effective periods of PTEs 2016-10 (granted to RBC) and 2016- 11 (granted to Northern), which currently are scheduled to expire on March 4, 2025, for up to six months if RBC and Northern meet certain conditions. The proposed amendment to PTE 2016-10 is referred to herein as the RBC Proposed QPAM Amendment, and the proposed amendment to PTE 2016-11 is referred to herein as the Northern Proposed QPAM Amendment.
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