[Federal Register Volume 68, Number 188 (Monday, September 29, 2003)]
[Notices]
[Page 55993]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-24593]


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DEPARTMENT OF LABOR

[Prohibited Transaction Exemption 2003-24]


Deutsche Bank AG and Its Affiliates; and JPMorgan Chase Bank and 
Its Affiliates (Collectively, the Applicants)

AGENCY: Department of Labor.

ACTION: Notice of technical correction.

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    On August 14, 2003, the Department of Labor (the Department) 
published in the Federal Register (68 FR 48637) an individual exemption 
which permits the purchase of any securities by an asset management 
affiliate of the Applicants (the Asset Manager), on behalf of employee 
benefit plans (Client Plans), including Client Plans investing in a 
pooled fund, for which the Asset Manager acts as a fiduciary, from any 
person other than the Asset Manager or an Affiliate thereof, during the 
existence of an underwriting or selling syndicate with respect to such 
securities, where any broker-dealer affiliate of the Applicants is a 
manager or member of such syndicate (i.e., ``affiliated underwriter 
transaction'' or ``AUT''), and/or where an affiliated trustee serves as 
trustee of a trust that issued the securities (whether or not debt 
securities) or serves as indenture trustee of securities that are debt 
securities (i.e., an ``affiliated trustee transaction'' or ``ATT'').
    Section I(n)(5) of the exemption requires explicit notification to 
an Independent Fiduciary that the authorization to engage in the 
covered transaction may be terminated, without penalty (see the third 
column on 68 FR 48639). The eighth line therein should read as follows:
    ``* * * on no more than five days' notice by * * *'' [emphasis 
added]

FOR FURTHER INFORMATION CONTACT: Mr. Gary Lefkowitz of the Department, 
telephone (202) 693-8546.

    Signed at Washington DC this 24th day of September, 2003.
Ivan L. Strasfeld,
Director, Office of Exemption Determinations, Employee Benefits 
Security Administration.
[FR Doc. 03-24593 Filed 9-26-03; 8:45 am]
BILLING CODE 4510-29-P