Broker Certifications

Minnesota law requires local units of government to obtain a broker’s certification before transacting business with a broker. Each year, the broker must acknowledge in writing the receipt of a statement of investment restrictions and must agree to handle the government entity’s account in accordance with those restrictions. The law prohibits a government entity from entering into a transaction with a broker until the broker provides the entity with the required certification.

For more information and links to broker certification forms for local governments and relief associations, go here.

Date this Avoiding Pitfall was most recently published: 2/28/2020