SIFMA Statement On DOL Announcement Of Delay Of PTE Enforcement

SIFMA released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, today regarding an announcement by the Department of Labor on a temporary delay of the enforcement effective date for Prohibited Transaction Exemption 2020-02:

“We appreciate that the Department recognized the industry needs additional time to comply with Class Exemption 2020-02, and we thank the Department for the relief provided by in the notice issued today.  We will continue to work with the Department on our shared goal of a smooth and effective implementation of this important exemption.”