News & Events

Partner Erica Rozow and Senior Counsel George Gerstein were quoted in articles by Bloomberg Law, Ignites, InvestmentNews and Pensions & Investments, which discussed the DOL’s finalized amendment to its qualified professional asset manager exemption (QPAM). Erica told Bloomberg Law that the QPAM exemption has been traditionally viewed as the "gold standard" for investment managers acting as ERISA fiduciaries. When discussing the changes with Pensions & Investments, George indicated that while the final amendment features changes from the 2022 proposal on which it was based, “the macro effect of these changes may result in asset management firms and fund sponsors reassessing whether an alternative exemption is the way to go when managing plan assets.” Erica also noted to InvestmentNews that, “these changes to the QPAM exemption will likely lend themselves to additional diligence considerations in the M&A space.”

To read the Bloomberg Law article, please click here.

To read the Ignites article, please click here (subscription required).

To read the InvestmentNews article, please click here.

To read the Pensions & Investments article, please click here (subscription required).