The Street
Msn Money
Violation Exploitative Activity Real Money Transaction Definition

Good Morning,
I had a couple of concerns I wanted to address that have been bothering me in-game lately.

If you’ve spent any amount of time in Trade Chat, you’ve probably noticed that it is full of people advertising Mythic Keystone and Raid sales. I have no problem with this, I’ve sold many keys for gold. However, when I began to notice that a lot of those players advertising are level 1 (or lvl 20 allied race), I started to suspect they may not be following ToS. The last couple of weeks I’ve been messaging those advertisers for more info to check for myself. A large number of them have directed me to 3rd party sites, which only offer Dungeon/Raid clears for Real Money Transactions. When this is the case, I’ve been reporting them and including a note briefly explaining the above. My concern is that I keep seeing the same names advertising, over and over again, day after day. I’m concerned that nothing is being done when these people are clearly violating ToS and further cluttering Trade Chat. What is the best way for me to report this behavior? Should I include the URL to their RMT site in the report? Is there any other information that would be more helpful to Blizzard to take action?
Advertising sales in the LFG tool is against ToS, even for gold. I’ve been reporting players in-game for Advertising, but it seems like I continue to see the same names there as well. Are these reports addressed by an individual or is there an automated system that handles these? If it’s automated is it based on the number of reports to trigger any kind of action?

There are plenty of people using Trade Chat correctly, and selling clears for gold, not RMT … but the players violating ToS are cluttering the channel/LFG and messing with the economy. It starts to feel like I’m fighting a losing battle. I would love to hear that these are being addressed, or read about some bans being handed out. As for now, I read about bans being lifted for people modding client side, a clear ToS violation, and it starts to feel like the ToS is more of a guideline than a rule, you know? I’d like to know I’m not wasting my time following the rules.

In addition to establishing fiduciary duties, the Employee Retirement Income Security Act of 1974 (ERISA) also lists a number of transactions between a plan and a 'party in interest' or a fiduciary that are specifically prohibited. Engaging in a nonexempt prohibited transaction not only violates ERISA, but it can also create significant tax liability. These are transactions that lawmakers believed would be most easily subject to abuse if not specifically prohibited.

Party in interest

A party in interest is almost any individual or any entity having anything to do with the plan, including fiduciaries; employees of the employer maintaining the plan; owners of the employer maintaining the plan; service providers to the plan, including recordkeepers; and generally, anyone related to any of these people or entities.

Party in interest transactions

245 Advisory to Financial Institutions on Filing Suspicious Activity Reports regarding Trade Based-Money Laundering, FIN-2010-A001, February 18, 2010. The advisory contains examples of 'red flags' based on activity reported in SARs that FinCEN and law enforcement believe may indicate trade-based money.
475.42(1)(d), Florida Statutes, by failing to collect any money in connection with any real estate brokerage transaction, whether as a commission, deposit, payment, rental, or otherwise, in the name of the employer and with the express consent of the employer. 2/12/2020 Fort Lauderdale, FL Nicole Munoz SL 3200291.

Under the prohibited transactions rules, a fiduciary is prohibited from causing a plan to engage in a transaction if the fiduciary knows or should know that the transaction constitutes a direct or indirect:

Children is a grave violation of children’s rights with devastating long-term consequences. Research on this subject is growing. However, most of it centres on girls, neglecting the needs, experiences and perspectives of boys as well as youth who identify outside the gender binary (Adjei & Saewyc, 2017. Establish an effective suspicious activity monitoring and reporting process; Develop risk-based anti-money laundering programs; Suspicious Activity Reports (SAR) As of April 1, 2013, financial institutions must use the Bank Secrecy Act BSA E-Filing System in order to submit Suspicious Activity Reports.

The Street

Sale or exchange, or leasing, of any property between the plan and a party in interest
Lending of money or other extension of credit between the plan and a party in interest
Furnishing of goods, services, or facilities between the plan and a party in interest
Transfer to, or use by or for the benefit of, a party in interest, of any assets of the plan
Acquisition, on behalf of the plan, of any employer security or employer real property in violation of ERISA

Msn Money

Fiduciary transactions

Violation Exploitative Activity Real Money Transaction Definition

In addition, the prohibited transaction provisions prohibit a fiduciary from:

Dealing with the assets of the plan in his/her own interest or for change to his/her own account
Acting in his/her individual account, or in any other capacity, acting in any transaction involving the plan on behalf of a party (or representing a party) whose interests are adverse to the interests of the plan or the interests of its participants or beneficiaries
Receiving any consideration for his/her own personal account from any party dealing with the plan in connection with a transaction involving the assets of the plan

Prohibited transaction exemptions

ERISA's prohibited transaction rules are so broad that, in the absence of extensive exemptions, many necessary plan operations would likely be impossible. In acknowledgment of this, lawmakers created exemptions, referred to as 'statutory exemptions.'

In addition, the DOL has created and continues to create generally applicable exemptions, referred to as 'class exemptions,' which cover a broad type of transaction affecting more than a single plan or sponsor, as well as specific exemptions for individuals and entities available upon request, referred to as 'individual exemptions.'

Statutory exemptions. ERISA itself lists many exemptions to the prohibited transaction rules. For example, the statutory exemptions include an exemption for participant loans to active employees, contracting for services with recordkeepers, and providing plan benefits to fiduciaries who are also participants. Generally, the statutory exemptions require that the transaction meet several conditions (e.g., in the case of investment advice, the requirements of ERISA Section 408(g) must be met) before it will fit within the exemption. A failure to meet any of these will cause the transaction to be a prohibited transaction. Participant loans to employees, for example, must meet all of the statutory exemption provisions or they will be prohibited transactions under ERISA.
Class exemptions. There are several class exemptions, which are authorized by ERISA and granted by the DOL. The class exemptions include an exemption for failure to timely remit participant contributions to the plan, where the contributions are voluntarily restored and the other conditions of the exemption are satisfied. The class exemptions are available here
Individual exemptions. Like the class exemptions, the individual exemptions are authorized by ERISA and granted by the DOL. Individual exemptions are numerous, driven by individual circumstances and concerns, and must be applied for by a plan sponsor (or its authorized representative).
Penalties. Non-exempt retirement plan prohibited transactions can result not only in ERISA liability but also in the assessment of excise taxes under the Code. The Code's rules are