; or ; (2) by striking one or more of such trusts and inserting one or more of such trusts or accounts ; (3) by striking of such Act, and and inserting of such Act, ; and (4) by adding before the period at the end the following: , and (D) contributions to a custodial account meeting the requirements of section 403(b)(7) of the Internal Revenue Code of 1986 if: (i) the arrangement is subject to title I of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1001 et seq.), or (ii) any employer making such arrangement available agrees to serve as a fiduciary for the arrangement with respect to the selection of the arrangement’s investments . (c) Amendments to the Securities Act of 1933 Section 3(a)(2) of the Securities Act of 1933 ( 15 U.S.C. 77c(a)(2) ) is amended— (1) by striking other than a retirement income account in clause (iii) and inserting other than a custodial account described in section 403(b)(7) of such Code or a retirement income account ; (2) by striking the semicolon at the end and inserting a period; and (3) by adding at the end the following: Notwithstanding anything to the contrary in this paragraph, the provisions of this title shall not apply to any interest or participation in a single trust fund, or in a collective trust fund maintained by a bank, which interest or participation is issued in connection with a custodial account meeting the requirements of section 403(b)(7) of the Internal Revenue Code of 1986 if: (i) the arrangement is subject to title I of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1001 et seq.), or (ii) any employer making such arrangement available agrees to serve as a fiduciary for the arrangement with respect to the selection of the arrangement’s investments