PTE 2006-16 permits an employee
benefit plan to lend securities to certain broker-dealers and banks
and to make compensation arrangements for lending services provided
by a plan fiduciary in connection with such securities loans. In
the absence of this exemption, some aspects of these transactions
might be prohibited under Section 406 of ERISA. The PTE includes
conditions that constitute information collections under the
PRA.
US Code:
29
USC 1108(a) Name of Law: Employee Retirement Income Security
Acty of 1974
The adjustments to the burden
analysis arise from a change to the marketplace using the
exemption. Based on changes to the membership of the International
Securities Lending Association, the Department has revised the
number of entities using the exemption upward from 85 to 100. Aside
from the number of entities using the exemption, the Department has
factored in inflation in the increased wage and postage rates.
$0
No
No
No
No
No
Uncollected
Chris Cosby 202
693-8540
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.