; (ii) interested persons are given an opportunity to present views; and (iii) the Secretary of Labor affords an opportunity for a hearing and makes a determination on the record with respect to the respective requirements of clauses (i), (ii), and (iii) of subparagraph (B). (D) Application of ERISA fiduciary exemptions Notwithstanding subparagraph (C), the Secretary of Labor may determine that an exemption granted for any class of fiduciaries or transactions under section 408(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1108(a) ) shall, upon publication of notice in the Federal Register under this subparagraph, constitute an exemption from the application of paragraph (2). (e) Nonapplication This section does not prohibit any fiduciary from— (1) receiving any benefit which the fiduciary is entitled to receive under this Act as a participant, former participant, or beneficiary; (2) receiving any reasonable compensation authorized by this Act for services rendered, or for reimbursement of expenses properly and actually incurred, in the performance of the fiduciary’s duties under this Act