Notice2026-00291
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Statutory Exemption for Cross-Trading of Securities
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 12, 2026
Issuing agencies
Labor Department
Abstract
The Department of Labor (DOL) is submitting this Employee Benefits Security Administration (EBSA)-sponsored information collection request (ICR) to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995 (PRA). Public comments on the ICR are invited.
Full Text
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<title>Federal Register, Volume 91 Issue 7 (Monday, January 12, 2026)</title>
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[Federal Register Volume 91, Number 7 (Monday, January 12, 2026)]
[Notices]
[Pages 1200-1201]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-00291]
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DEPARTMENT OF LABOR
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Statutory Exemption for Cross-Trading of
Securities
ACTION: Notice of availability; request for comments.
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SUMMARY: The Department of Labor (DOL) is submitting this Employee
Benefits Security Administration (EBSA)-sponsored information
collection request (ICR) to the Office of Management and Budget (OMB)
for review and approval in accordance with the Paperwork Reduction Act
of 1995 (PRA). Public comments on the ICR are invited.
DATES: The OMB will consider all written comments that the agency
receives on or before February 11, 2026.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Michael Howell by telephone at 202-
693-6782, or by email at <a href="/cdn-cgi/l/email-protection#2e6a6162717e7c6f717e7b6c62676d6e4a414200494158"><span class="__cf_email__" data-cfemail="afebe0e3f0fffdeef0fffaede3e6ecefcbc0c381c8c0d9">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: The Statutory Exemption for Cross-Trading of
Securities regulation (29 CFR 2550.408b-19) implements the content
requirements for the written cross-trading policies and procedures
required under section 408(b)(19)(H) of ERISA, as added by section
611(g) of the Pension Protection Act of 2006, Public Law 109-280 (the
PPA). Section 611(g)(1) of the PPA created a statutory exemption, added
to section 408(b) of ERISA as subsection 408(b)(19), that exempts from
the prohibitions of sections 406(a)(1)(A) and 406(b)(2) of ERISA those
cross-trading transactions involving the purchase and sale of a
security between an account holding assets of a pension plan and any
other account managed by the same investment manager, provided that
certain conditions are satisfied.
On October 7, 2008, the Department issued final regulations
regarding cross-trading policies and procedures (73 FR 58450). The
regulation provides that the policies and procedures for cross-trading
under the statutory exemption must meet certain content requirements.
The statutory exemption requires, as a condition to exemptive
relief, that an investment manager's policies and procedures regarding
cross-trading be provided in advance to the fiduciary of any plan that
is considering agreeing to allow its assets to be managed under the
investment manager's cross-trading program. The investment manager is
also required, under the statutory exemption, to designate a compliance
officer responsible for periodically reviewing the investment manager's
cross-trading program to ensure compliance with the investment
manager's cross-trading written policies and procedures. The statutory
exemption requires the compliance officer to issue an annual report to
each plan fiduciary describing the steps performed during the course of
the review, the level of compliance, and any specific instances of
noncompliance. The exemption does not require any reporting or filing
with the Federal government. For additional substantive information
about this ICR, see the related notice published in the Federal
Register on July 11, 2025 (90 FR 30984).
Comments are invited on: (1) whether the collection of information
is necessary for the proper performance of the functions of the
Department, including whether the information will have practical
utility; (2) the accuracy of the agency's estimates of the burden and
cost of the collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility and clarity of the information collection; and (4) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of automated collection techniques or
other forms of information technology.
[[Page 1201]]
This information collection is subject to the PRA. A Federal agency
generally cannot conduct or sponsor a collection of information, and
the public is generally not required to respond to an information
collection, unless the OMB approves it and displays a currently valid
OMB Control Number. In addition, notwithstanding any other provisions
of law, no person shall generally be subject to penalty for failing to
comply with a collection of information that does not display a valid
OMB Control Number. See 5 CFR 1320.5(a) and 1320.6.
DOL seeks PRA authorization for this information collection for
three (3) years. OMB authorization for an ICR cannot be for more than
three (3) years without renewal. The DOL notes that information
collection requirements submitted to the OMB for existing ICRs receive
a month-to-month extension while they undergo review.
Agency: DOL-EBSA.
Title of Collection: Statutory Exemption for Cross-Trading of
Securities.
OMB Control Number: 1210-0130.
Affected Public: Private sector.
Total Estimated Number of Respondents: 265.
Total Estimated Number of Responses: 2,385.
Total Estimated Annual Time Burden: 2,769 hours.
Total Estimated Annual Other Costs Burden: $21,632.
(Authority: 44 U.S.C. 3507(a)(1)(D))
Michael Howell,
Senior Paperwork Reduction Act Analyst.
[FR Doc. 2026-00291 Filed 1-9-26; 8:45 am]
BILLING CODE 4510-29-P
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