April 2, 2012 - News

Permanent prohibited transaction exemption for BlackRock granted by DOL

On April 2, 2012, the United States Department of Labor (DOL) granted Prohibited Transaction Exemption (PTE) 2012-09 enabling BlackRock to conduct a wide array of covered transactions on behalf of its client plans with or involving its minority passive shareholders, currently comprised of Barclays and PNC. PTE 2012-09 provides permanent exemptive relief to BlackRock, replacing PTE 2011-17 granted by the DOL on an interim basis.