crgravitt
Oct 29 2003, 04:43 PM
Anyone familiar with regs that would prevent a company V.P. from receiving commissions on the plan he is also a participant in? He's not on the board of directors and is appropriately licensed. Thanks for any help you can provide!
R. Butler
Oct 30 2003, 09:04 AM
Probably need to review PTE 84-24.
Even if it qualifies for a prohibited transaction exemption, I'd avoid it just because of the appearance.
crgravitt
Oct 30 2003, 12:52 PM
Thanks, R. Butler! Seems to be the fiduciaries' call when all is said and done.
MWeddell
Oct 30 2003, 03:27 PM
Prohibited transactions is an area that's complicated enough that I'd tell the client to get a legal opinion if they want to do it.
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