Swapping Safely: DOL's Take On Swaps And ERISA Plans

Law360, New York (February 20, 2013, 12:31 PM EST) -- Much of the investment capital in the U.S. market is in retirement plans subject to the Employee Retirement Income Security Act of 1974. Over the years, an important element of a number of plans’ investment portfolios has been investment in derivatives instruments, including swaps. On Feb. 7, 2013, the U.S. Department of Labor issued Advisory Opinion 2013-01A (the “swaps opinion”), which may have the effect of ameliorating growing concerns among financial institutions regarding swap transactions with ERISA plans.

Swaps could theoretically raise issues regarding the possible...
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