[Federal Register: September 22, 2000 (Volume 65, Number 185)]
[Notices]               
[Page 57401]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22se00-97]                         


[[Page 57401]]

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DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration

[Prohibited Transaction Exemption 2000-45; Exemption Application Nos. 
D-10809 and D-10865]

 
Grant of Individual Exemption to Amend and Replace Prohibited 
Transaction Exemption (PTE) 99-15, Involving Salomon Smith Barney Inc. 
(Salomon Smith Barney), Located in New York, NY

AGENCY: Pension and Welfare Benefits Administration, U.S. Department of 
Labor (the Department).

ACTION: Notice of Technical Correction.

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    On September 7, 2000, the Department published in the Federal 
Register (65 FR 54315) a final exemption which amends and replaces PTE 
99-15 (64 FR 1648, April 5, 1999), an exemption granted to Salomon 
Smith Barney. PTE 99-15 relates to the operation of the TRAK 
Personalized Investment Advisory Service product (the TRAK Program) and 
the Trust for Consulting Group Capital Markets Funds (the Consulting 
Group).
    On page 54316 of the grant notice, the last sentence of the third 
paragraph of the Supplementary Information, erroneously refers to an 
effective date of July 10, 2000 with respect to Section III(d) of the 
grant notice. Thus, the sentence should be revised to read as follows:

    The Final Exemption is effective as of April 1, 2000 with 
respect to the amendments to Sections II(i) and III(b) of the grant 
notice and the inclusion of new Section III(d) of the grant notice.

    Also on page 54316 of the grant notice, clause (c) of Footnote 1, 
should be revised as follows to describe more accurately the purpose of 
the automated reallocation option:

    (c) adopted an automated reallocation option under the TRAK 
Program which would afford an Independent Plan Fiduciary the option 
of having his or her asset allocation adjusted automatically 
whenever the Consulting Group changes an allocation model;


FOR FURTHER INFORMATION CONTACT: Ms. Jan D. Broady of the Department at 
(202) 219-8881. (This is not a toll-free number.)

    Signed at Washington, DC, this 18th day of September, 2000.
Ivan L. Strasfeld,
Director of Exemption Determinations, Pension and Welfare Benefits 
Administration, Department of Labor.
[FR Doc. 00-24388 Filed 9-21-00; 8:45 am]
BILLING CODE 4510-29-M