Groom principal David Kaleda was featured by Law360 in the article, “4 Atty Takeaways from DOL’s Asset Manager Exemption,” where he covered the Department of Labor’s (“DOL’s”) final changes to ERISA’s Qualified Professional Asset Manager (“QPAM”) provision.
Law360 reported that Kaleda said that “the indemnity provisions applying to all written agreements was something from the proposal that ‘really had managers worried’ and that the final amendment’s shift applying those provisions in the event of disqualifying misconduct was ‘a pretty big deal.’”
“That would have required a massive amendment process, with all of our clients, that presented some fairly challenging operational and compliance difficulties,” said Kaleda.
To read the article, click here.
