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View More Press Releases by Centre for Fiduciary Excellence [CEFEX]

Press release:

Paskenta Band of Nomlaki Indians is Certified for Fiduciary Excellence

Issued by: Centre for Fiduciary Excellence [CEFEX]

Date: Nov. 13, 2019

PITTSBURGH, NOVEMBER 13, 2019 – The Centre for Fiduciary Excellence (CEFEX), announced today that it has certified the investment fiduciary practices of Paskenta Band of Nomlaki Indians in Corning, CA as adhering to a global standard of excellence for Investment Stewards. Paskenta Band of Nomlaki Indians is among the first organizations globally to successfully complete the independent CEFEX certification process.

The CEFEX standard of excellence for Investment Stewards is based on 21 fiduciary practices that seek to increase long-term investment performance by diversifying the portfolio across multiple asset classes and peer groups, evaluating investment management fees and expenses, and selecting or terminating investment managers. The practices also help uncover investment and/or procedural risk, which may assist in prioritizing investment management projects.

CEFEX Managing Director Carlos Panksep said: “Through CEFEX’s independent assessment, the certification provides assurance to participants and stakeholders that Paskenta Band of Nomlaki Indians has demonstrated adherence to the industry’s best fiduciary practices.”

“On the 25th Anniversary of achieving status as a sovereign nation, the Paskenta Band of Nomlaki Indians is honored to be recognized as the first Tribal government in California to receive this certification," said Tribal Chairman Andrew Alejandre. "The Tribe has worked hard to build a transparent, democratic, and representative Tribal government that works for the benefit of all members."

The fiduciary practices are based on the Fi360 Inc. publication: Prudent Practices for Investment Stewards and are substantiated by legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act (ERISA), Uniform Prudent Investor Act (UPIA), Uniform Prudent Management of Institutional Funds Act (UPMIFA) and the Uniform Management of Public Employee Retirement Systems Act (MPERS) in the U.S. A summary of the fiduciary practices can be viewed by clicking on the Paskenta Band of Nomlaki Indians on-line CEFEX certificate, available at www.cefex.org.

The annual certification process involves a detailed review of documents, investments and procedures followed by on-site interviews with key personnel. A full copy of the standard is available at www.fi360.com. More information on Paskenta Band of Nomlaki Indians is available at: https://paskenta-nsn.gov.

About CEFEX®:
CEFEX, Centre for Fiduciary Excellence, LLC, an Fi360® company, is an independent certification organization. CEFEX works closely with industry experts to provide comprehensive assessment programs to improve the fiduciary practices of investment stewards, advisors, recordkeepers, administrators and managers. CEFEX is based in Pittsburgh, PA and www.cefex.org. Connect to CEFEX via Twitter or LinkedIn.

About Fi360®:
Fi360, a Broadridge company, is a fiduciary education, training and technology organization, and helps financial intermediaries use prudent fiduciary practices to profitably gather, grow and protect investors’ assets. Since 1999, the firm has provided financial professionals with the tools necessary to act as a fiduciary in their work with investors. Headquartered in Pittsburgh, PA, Fi360 is the home of the Accredited Investment Fiduciary® (AIF®) designation, the Fiduciary Focus Toolkit™ and the Fi360 Fiduciary Score®. Fi360 is also the parent company of CEFEX. Learn more at www.fi360.com via Twitter or on LinkedIn.

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View More Press Releases by Centre for Fiduciary Excellence [CEFEX]


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