May 5, 1993
TO: PENSION COMMITTEE NO. 15-93
INVESTMENT ADVISERS COMMITTEE NO. 9-93
RE: MEETING TO DISCUSS AGENCY CROSS-TRANSACTIONS UNDER ERISA
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As you know, ERISA Prohibited Transaction Class Exemption
86-128 permits plan fiduciaries to engage in agency cross-
transactions on behalf of employee benefit plans only under
limited circumstances. (See Institute Memorandum to Pension
Members No. 25-86, Investment Adviser Members No. 37-86 and
Investment Adviser Associate Members No. 43-86, dated December 8,
1986 (copy attached)).
A meeting has been scheduled for Wednesday, May 19, at
10:00 a.m. in the Institute's main conference room to discuss
potential industry efforts to expand the permitted types of
agency cross-transactions. Lunch will be provided. Please
contact Cindy Lutes at (202) 955-3587 if you will be able to
attend.
Kathy D. Ireland
Associate Counsel - Pension
Attachment