Labor Department publishes rule on April 8

The US Labor Department published a two page rule on April 8, according to the U.S. Government Publishing Office.

The rule is focused on Amendment to and Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit Plans and Broker-Dealers; Amendment to and Partial Revocation of PTE 75-1, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Employee Benefits Plans and Certain Broker-Dealers, Reporting Dealers and Banks..

The Department provides billions in unemployment insurance, which peaked around 2011 though spending had declined before the pandemic. Downsizing the Federal Government, a project aimed at lowering taxes and boosting federal efficiency, claimed the Department funds "ineffective and duplicative services" and overregulates the workplace.

Notices are required documents detailing rules and regulations being proposed by each federal department. This allows the public to see what issues legislators and federal departments are focusing on.

Any person or organization can comment on the proposed rules. Departments and agencies must then address “significant issues raised in comments and discuss any changes made,” the Federal Register says.

Notices published by the Labor Department on April 8

Title
Amendment to and Partial Revocation of Prohibited Transaction Exemption (PTE) 84-24 for Certain Transactions Involving Insurance Agents and Brokers, Pension Consultants, Insurance Companies, and Investment Company Principal Underwriters
Amendment to Prohibited Transaction Exemption (PTE) 75-1, Part V, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Employee Benefit Plans and Certain Broker-Dealers, Reporting Dealers and Banks
Amendment to and Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit Plans and Broker-Dealers; Amendment to and Partial Revocation of PTE 75-1, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Employee Benefits Plans and Certain Broker-Dealers, Reporting Dealers and Banks.
Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs
Best Interest Contract Exemption
Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice
Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1
Nucor Steel Connecticut Incorporated; Grant of a Permanent Variance
Data Users Advisory Committee; Notice of Meeting and Agenda
Rollins College; AmerenUE (Formerly Union Electric Company); and Outfront Media, LLC (Formerly Gannett Outdoor Companies, Operating as Outdoor Systems, Inc., Subsequently CBS Outdoor Systems, Inc.): Technical Amendment to, and Revocation of, Permanent Variances