Prior exemptions may not reflect current policies or procedures. The Department, for example, may require terms and conditions that were not required in prior exemptions. Persons considering filing for an exemption or EXPRO authorization may find it very helpful to discuss the facts or issues in their cases with the Department before preparing the filing. The Department welcomes all inquiries and is available to answer any questions you may have. Call us at 202-693-8540.
Grant Notices
PTE 2016-03; D-11813
G: 81 FR 72115 (10/19/16)
P: 81 FR 25433 (04/28/16)
The Michael T. Sewell, M.D. P.S.C. Profit Sharing Plan (the Plan)
Permits the cash sale of unimproved real property by the individually-directed account in the Plan of Dr. Michael T. Sewell to Dr. Sewell, the Plan trustee and a participant in the Plan.
PTE 2016-04; D-11822
G: 81 FR 72115 (10/19/16)
P: 81 FR 25435 (04/28/16)
Plumbers' Pension Fund, Local 130, U.A. (the Plan)
Permits the cash sale by the Plan of two commercial buildings (the Buildings) to the Chicago Journeymen Plumbers' Local Union 130, U.A., a party in interest with respect to the Plan. The sale price will be: (1) the greater of $1.64 million, or (2) the fair market value of the Buildings, as determined by a qualified independent appraiser in an updated appraisal on the date of the sale.
PTE 2016-05; D-11846 and D-11847
G: 81 FR 72116 (10/19/16)
P: 81 FR 29705 (05/12/16)
Sears Holdings 401(k) Savings Plan and the Sears Holdings Puerto Rico Savings Plan (collectively, the Plans)
Permits, for the period beginning October 16, 2014, and ending November 7, 2014, the acquisition and holding by the Plans of certain subscription rights to purchase shares of common stock (Stock) in Sears Canada Inc. (SC) in connection with an offering by Sears Holdings Corporation of shares of SC Stock.
PTE 2016-06; D-11851 and D-11852
G: 81 FR 72117 (10/19/16)
P: 81 FR 29709 (05/12/16)
Sears Holdings 401(k) Savings Plan and the Sears Holdings Puerto Rico Savings Plan (collectively, the Plans)
Permits, for the period beginning October 30, 2014, and ending November 18, 2014, the holding and disposition of rights to unsecured obligations issued by Sears Holdings Corporation (Holdings), and warrants to purchase the common stock of Holdings by the Plans.
PTE 2016-07; D-11858
G: 81 FR 72118 (10/19/16)
P: 81 FR 25438 (04/28/16)
Liberty Media 401(k) Savings Plan (the Plan)
Permits: (1) the acquisition by the Plan of certain stock subscription rights (the Rights) to purchase shares of Liberty Broadband Series C common stock (LB Series C Stock), in connection with a rights offering (the Rights Offering) held by Liberty Broadband Corporation, a party in interest with respect to the Plan; and (2) the holding of the Rights by the Plan during the subscription period of the Rights Offering.
PTE 2016-08; D-11866
G: 81 FR 72119 (10/19/16)
P: 81 FR 25441 (04/28/16)
O: 82 FR 22563 (05/16/17) (Notice of Technical Correction)
Baxter International Inc. (Baxter)
Permits an in-kind contribution of publicly traded common stock of Baxalta (the Contributed Stock) from Baxter (the Contribution) to the Baxter International Inc. and Subsidiaries Pension Plan.
PTE 2016-09; D-11871 and D-11872
G: 81 FR 72121 (10/19/16)
P: 81 FR 29713 (05/12/16)
Sears Holdings 401(k) Savings Plan (the Savings Plan) and the Sears Holdings Puerto Rico Savings Plan (the PR Plan) (collectively, the Plans)
Permits, effective for the period, June 11, 2015, until July 2, 2015: (1) the acquisition of certain subscription rights (the Rights) by the Savings Plan and the PR Plan from Sears Holdings Corporation (Holdings), in connection with an offering (the Offering) by Holdings of shares of common stock in Seritage Growth Properties; and (2) the holding of the Rights by the Plans during the subscription period of the Offering.
PTE 2016-10; D-11868
G: 81 FR 75147 (10/28/16)
P: 81 FR 70562 (10/12/16)
Royal Bank of Canada (RBC)
Temporary exemption that permits certain entities with specified relationships to Royal Bank of Canada Trust Company (Bahamas) Limited (the RBC QPAMs) to rely on the exemptive relief provided by Prohibited Transaction Exemption (PTE) 84–14, notwithstanding a judgment of conviction against Royal Bank of Canada Trust Company (Bahamas) Limited for aiding and abetting tax fraud, scheduled to be entered in France in the District Court of Paris on January 12, 2017 (the Conviction), for a period of up to twelve months beginning on the date of the Conviction.
PTE 2016-11; D-11875
G: 81 FR 75150 (10/28/16)
P: 81 FR 70569 (10/12/16)
Northern Trust Corporation
Temporary exemption that permits certain entities with specified relationships to Northern Trust Fiduciary Services (Guernsey) ltd. (the Northern QPAMs) to rely on the exemptive relief provided by Prohibited Transaction Class Exemption 84–14 (PTE 84–14), notwithstanding a judgment of conviction against Northern Trust Fiduciary Services (Guernsey) ltd. for aiding and abetting tax fraud, scheduled to be entered in France in the District Court of Paris on January 12, 2017 (the Conviction), for a period of up to twelve months beginning on the date of the Conviction.
PTE 2016-12; D-11879
G: 81 FR 75153 (10/28/16)
P: 81 FR 70577 (10/12/16)
Extension of PTE 2015-15 Involving Deutsche Bank AG
Extends the relief provided in PTE 2015–15 from October 24, 2016 until the earlier of April 23, 2017 or the effective date of an exemption that is granted in respect of Exemption Application No. D–11856, if any. PTE 2015-15 permits certain entities with specified relationships to Deutsche Bank AG (i.e., Deutsche Bank QPAMs), to rely upon the relief provided by Prohibited Transaction Class Exemption 84-14, notwithstanding the judgment of conviction against Deutsche Securities Korea Co. (DSK), to be entered in Seoul Central District Court, South Korea, relating to charges filed against DSK under Articles 176, 443, and 448 of South Korea's Financial Investment Services and Capital Markets Act for spot/futures-linked market price manipulation.
PTE 2016-13; D-11856
G: 81 FR 94028 (12/22/16)
P: 81 FR 83336 (11/21/16)
Deutsche Investment Management Americas Inc. (DIMA) and Certain Current and Future Asset Management Affiliates of Deutsche Bank AG
Temporary exemption that permits certain entities with specified relationships to Deutsche Bank (the DB QPAMs) to rely on the exemptive relief provided by PTE 84–14, notwithstanding: (1) the judgment of conviction against Deutsche Securities Korea Co. (DSK), a South Korean affiliate of Deutsche Bank AG, entered on January 25, 2016, in Seoul Central District Court, relating to charges filed against DSK under Articles 176, 443, and 448 of South Korea's Financial Investment Services and Capital Markets Act for spot/futures-linked market price manipulation; and (2) the judgment of conviction against DB Group Services UK Limited, an affiliate of Deutsche Bank based in the United Kingdom, in Case 3:15-cr-00062-RNC to be entered in the United States District Court for the District of Connecticut for a single count of wire fraud, in violation of 18 U.S.C. § 1343, related to the manipulation of LIBOR, scheduled to be entered on April 3, 2017 (the U.S. Conviction Date); effective for a period of up to twelve months following the U.S. Conviction Date.
PTE 2016-14; D-11859
G: 81 FR 94034 (12/22/16)
P: 81 FR 83350 (11/21/16)
Citigroup, Inc. (Citigroup)
Temporary exemption that permits certain entities with specified relationships to Citigroup (the Citigroup Affiliated and Citigroup Related QPAMs) to rely on the exemptive relief provided by PTE 84–14, notwithstanding the judgment of conviction against Citicorp, an affiliate of Citigroup, which is scheduled to be entered in the District Court for the District of Connecticut in Case Number 3:15–cr–78–SRU on January 5, 2017 (the Conviction Date), for engaging in a conspiracy to: (1) Fix the price of, or (2) eliminate competition in the purchase or sale of the euro/U.S. dollar currency pair exchanged in the Foreign Exchange (FX) Spot Market; effective for a period of up to twelve months following the Conviction Date.
PTE 2016-15; D-11861
G: 81 FR 94039 (12/22/16)
P: 81 FR 83357 (11/21/16)
JPMorgan Chase & Co. (JPMC)
Temporary exemption that permits certain entities with specified relationships to JPMC (the JPMC Affiliated and JPMC Related QPAMs) to rely on the exemptive relief provided by PTE 84–14, notwithstanding the judgment of conviction against JPMC for violation of the Sherman Antitrust Act, 15 U.S.C. 1, which is scheduled to be entered in the District Court for the District of Connecticut (Case Number 3:15–cr–79–SRU) on January 5, 2017 (the Conviction Date), for engaging in a conspiracy to: (1) Fix the price of, or (2) eliminate competition in the purchase or sale of the euro/U.S. dollar currency pair exchanged in the Foreign Exchange (FX) Spot Market; effective for a period of up to twelve months following the Conviction Date.
PTE 2016-16; D-11862
G: 81 FR 94044 (12/22/16)
P: 81 FR 83365 (11/21/16)
Barclays Capital Inc. (BCI)
Temporary exemption that permits certain entities with specified relationships to BCI (the Barclays Affiliated QPAMs and the Barclays Related QPAMs) to rely on the exemptive relief provided by PTE 84–14, notwithstanding the judgment of conviction (the Conviction) against Barclays PLC for violation of the Sherman Antitrust Act, 15 U.S.C. 1, which is scheduled to be entered on January 5, 2017 in the District Court for the District of Connecticut in Case Number 3:15–cr–00077– SRU–1; effective for a period of up to twelve months following the date of the Conviction.
PTE 2016-17; D-11863
G: 81 FR 94049 (12/22/16)
P: 81 FR 81158 (11/17/16)
UBS Assets Management (Americas) Inc.; UBS Realty Investors LLC; UBS Hedge Fund Solutions LLC; UBS O’Connor LLC; and Certain Future Affiliates in UBS’s Asset Management and Wealth Management Americas Divisions
Temporary exemption that permits certain entities with specified relationships to UBS AG (the UBS QPAMs) to rely on the exemptive relief provided by PTE 84-14, notwithstanding (1) the judgment of conviction against their affiliate UBS Securities Japan Co., Ltd. entered on September 18, 2013 in Case Number 3:12-cr-00268-RNC in the U.S. District Court for the District of Connecticut for one count of wire fraud in connection with submission of Yen LIBOR and other benchmark interest rates and (2) the judgment of conviction against UBS AG (the UBS AG Conviction) in Case Number 3:15-cr-00076-RNC in the U.S. District Court for the District of Connecticut for one count of wire fraud in connection with UBS’s submission of Yen LIBOR and other benchmark interest rates between 2001 and 2010, scheduled to be entered on January 5, 2017; effective for a period of up to twelve months following the date of the UBS AG Conviction.
Proposed Exemptions
D-11825
FR Citation: 81 FR 29696 (05/12/16)
ABARTA, Inc. Pension Plan (the Plan)
Would permit: (a) the in-kind contribution by ABARTA Inc. (ABARTA) to the Plan (the Contribution) of ABARTA's 100% ownership interests (the LLC Interests) in two special purpose entities: Delabarta Pennsylvania Real Estate, LLC (Delabarta Pennsylvania LLC); and Delabarta New York Real Estate, LLC (Delabarta New York LLC) (together, the LLCs), each of which owns, as its only asset, a parcel of improved real property (a Property); (b) Following the Contribution: (1) the Plan's leasing of the Property owned by the Delabarta Pennsylvania LLC to an ABARTA subsidiary, Coca-Cola Bottling Company of Lehigh Valley, Inc. (Coca Cola Lehigh Valley) and a one-time renewal of that lease; and (2) the Plan's leasing of the Property owned by the Delabarta New York LLC to another ABARTA subsidiary, Coca-Cola Bottling Company of Buffalo, Inc. (Coca Cola Buffalo), and a one-time renewal of that lease (Hereinafter, the two leases are referred to as the "Leases", and the two renewals of those Leases are referred to as the "Lease Renewals."); (c) the guarantees by Coca-Cola Buffalo and Coca-Cola Lehigh Valley (the Tenants) to the Plan in connection with a "make whole obligation" (the Make Whole Obligation), and any payments to the Plan in fulfillment of that obligation; (d) Each Tenant's indemnification of the Plan in connection with a Lease and a Lease Renewal; and (e)(1) the Plan's granting of a right of first offer (the Right of First Offer) to each Tenant, whereby the Tenant may purchase a Property or LLC interest from the Plan; and (2) a sale by the Plan of a Property or LLC Interest to a Tenant in connection with a Tenant's exercise of that Right of First Offer.
D-11906
FR Citation: 81 FR 83372 (11/21/16)
JPMorgan Chase & Co. (JPMC)
The proposed five-year exemption, if granted, would permit certain entities with specified relationships to JPMC (the JPMC Affiliated and JPMC Related QPAMs) to rely on the exemptive relief provided by PTE 84–14, notwithstanding the judgment of conviction against JPMC for violation of the Sherman Antitrust Act, 15 U.S.C. 1, which is scheduled to be entered in the District Court for the District of Connecticut in Case Number 3:15–cr–79–SRU on January 5, 2017, for engaging in a conspiracy to: (1) Fix the price of, or (2) eliminate competition in the purchase or sale of the euro/U.S. dollar currency pair exchanged in the Foreign Exchange (FX) Spot Market; effective for a period of five years beginning on the date of publication of such grant in the Federal Register.
D-11907
FR Citation: 81 FR 83385 (11/21/16)
UBS Assets Management (Americas) Inc.; UBS Realty Investors LLC; UBS Hedge Fund Solutions LLC; UBS O’Connor LLC; and Certain Future Affiliates in UBS’s Asset Management and Wealth Management Americas Divisions
The proposed five-year exemption, if granted, would permit certain entities with specified corporate relationships to UBS AG (i.e., UBS QPAMs) to continue to rely upon the exemptive relief provided by PTE 84-14, notwithstanding (1) the judgment of conviction against their affiliate UBS Securities Japan Co., Ltd. entered on September 18, 2013 in Case Number 3:12-cr-00268-RNC in the U.S. District Court for the District of Connecticut for one count of wire fraud in connection with submission of Yen LIBOR and other benchmark interest rates and (2) the judgment of conviction against UBS AG in Case Number 3:15-cr-00076-RNC in the U.S. District Court for the District of Connecticut for one count of wire fraud in connection with UBS’s submission of Yen LIBOR and other benchmark interest rates between 2001 and 2010 scheduled to be entered on January 5, 2017; effective for a period of five years beginning on the date of publication of such grant in the Federal Register.
D-11908
FR Citation: 81 FR 83400 (11/21/16)
Deutsche Investment Management Americas Inc. (DIMA) and Certain Current and Future Asset Management Affiliates of Deutsche Bank AG
The proposed five-year exemption, if granted, would permit certain entities with specified relationships to Deutsche Bank (the DB QPAMs) to rely on the exemptive relief provided by PTE 84–14, notwithstanding: (1) the judgment of conviction against Deutsche Securities Korea Co. (DSK), a South Korean affiliate of Deutsche Bank AG, entered on January 25, 2016, in Seoul Central District Court, relating to charges filed against DSK under Articles 176, 443, and 448 of South Korea's Financial Investment Services and Capital Markets Act for spot/futures-linked market price manipulation; and (2) the judgment of conviction against DB Group Services UK Limited, an affiliate of Deutsche Bank based in the United Kingdom, in Case 3:15-cr-00062-RNC to be entered in the United States District Court for the District of Connecticut for a single count of wire fraud in violation of 18 U.S.C. § 1343, related to the manipulation of LIBOR, scheduled to be entered on April 3, 2017 (the U.S. Conviction Date), effective for a period beginning on the later of: the U.S. Conviction Date; or the date of publication of the grant notice in the Federal Register and ending on the date that is five years thereafter.
D-11909
FR Citation: 81 FR 83416 (11/21/16)
Citigroup, Inc. (Citigroup)
Proposed five-year exemption that would permit certain entities with specified relationships to Citigroup (the Citigroup Affiliated and Citigroup Related QPAMs) to rely on the exemptive relief provided by PTE 84–14, notwithstanding the judgment of conviction against Citicorp, an affiliate of Citigroup, which is scheduled to be entered in the District Court for the District of Connecticut in Case Number 3:15–cr–78–SRU on January 5, 2017 (the Conviction Date), for engaging in a conspiracy to: (1) Fix the price of, or (2) eliminate competition in the purchase or sale of the euro/U.S. dollar currency pair exchanged in the Foreign Exchange (FX) Spot Market; effective for a period of five years beginning on the date of publication of such grant in the Federal Register.
D-11910
FR Citation: 81 FR 83427 (11/21/16)
Barclays Capital Inc. (BCI)
Proposed five-year exemption that would permit certain entities with specified relationships to BCI (the Barclays Affiliated QPAMs and the Barclays Related QPAMs, respectively) to rely on the exemptive relief provided by Prohibited Transaction Class Exemption 84–14 (PTE 84–14), notwithstanding the judgment of conviction against Barclays PLC for violation of the Sherman Antitrust Act, 15 U.S.C. 1, which is scheduled to be entered on January 5, 2017 in the District Court for the District of Connecticut in Case Number 3:15–cr–00077– SRU–1; effective for a period of five years beginning on the date of publication of such grant in the Federal Register.