The Labor Department will publish an interim rule in the Federal Register on Feb. 12 spelling out regulations for cross-trading securities when benefit plans are involved in the deals, according to a news release. The regulation is slated to go into effect 60 days after the publication date.
The rule would implement a provision of the Pension Protection Act of 2006 that allows investment managers of benefit plans to cross trade if they met certain conditions, including the adoption of written cross-trading policies and procedures. The department also invited public comment on the interim rule.
