cefex news release ppa certification v3（cefex新闻稿ppa认证v3）.pdfVIP

NEWS RELEASE FOR IMMEDIATE RELEASE Carlos Panksep T: 416-401-8702 E: cpanksep@ NEW CERTIFICATION FOR FIDUCIARY ADVISERS AND ELIGIBLE INVESTMENT ADVICE ARRANGEMENTS PITTSBURGH, April 26, 2007 – CEFEX, Centre for Fiduciary Excellence, LLC, is announcing today, the introduction of an audit and certification program in response to the Pension Protection Act (PPA) passed in August 2006. The Act requires that ‘eligible investment advice arrangements’ (EIAA) between plan sponsors and fiduciary advisers, be independently- audited on an annual basis. CEFEX is now offering an independent audit based on a defined set of fiduciary practices through its network of qualified Analysts. CEFEX is also offering a certification program to ‘fiduciary advisers’ as defined by the PPA, who intend to serve in EIAA’s. By becoming certified, fiduciary advisers can demonstrate their qualification to plan sponsors, since the certification can occur prior to an EIAA audit. The fiduciary adviser certification program is supplemental to the existing CEFEX Investment Advisor Certification based on the fiduciary practices published by Fiduciary360 of Sewickley, PA. These practices are defined in the Fiduciary 360 publication Prudent Practices for Investment Advisors which was reviewed by Reish, Luftman Reicher Cohen of Los Angeles, CA, and edited by the American Institute of Certified Public Accountants (AICPA). For both the CEFEX audit and the CEFEX certification, a written report is provided to the fiduciary who authorized the EIAA, which presents the specific findings regarding PPA- compliance. The independence of the audit and the associated finding