Last week, EBSA issued final regulations pertaining to its Voluntary Fiduciary Correction Program. See also its related Amendment to Prohibited Transaction Exemption 2002-51 (PTE 2002-51) to Permit Certain Transactions Identified in the Voluntary Fiduciary Correction Program.
EBSA only received six comment letters in response to the April 2005 VFC Program and related class exemption. (You can access the comment letters here.) EBSA states in the preamble to the PTE that it is modifying the exemption in accordance with IRS’s suggestions here.