Written Acknowledgement of Fiduciary Status under DOL PTE 2020-02

The Written Acknowledgement of Fiduciary Status serves as an important part of a firm’s overall compliance with the Department of Labor’s (DOL’s) adopted Prohibited Transaction Exemption 2020-02 (“PTE 2020- 02”).  Section II(b)(1) of the final exemption includes the requirement to provide retirement investors with a written fiduciary acknowledgment. This disclosure is designed to ensure that the fiduciary nature of the relationship is clear to the financial institution and investment professional, as well as the retirement investor, at the time of the investment transaction. Members also downloaded Rollover Due Diligence Form for DOL PTE 2020-02, Broker-Dealer Written Supervisory Procedures- Improper Conduct Standards under DOL PTE 2020-02 and viewed our WSP Library.

Version/Update: V.1/May 27, 2022

Total Page Count/Format: 1/.docx

Source/Author(s): Connexien