FAQs: How to Update Your Employment Status

  • Why does Fidelity need my employment information if I work for an affiliated company?

    If you're employed by a securities industry associated company, Fidelity is required to obtain consent from your employer before you can open certain accounts. Additionally, Fidelity is required to report your trading and account activity to your employer.

    In most cases, if you work forĀ a securities industry associated company, Fidelity already has a letter of consent (407 letter) on file from your company.

  • How do I determine if my employer is affiliated?

    If you're employed by or associated with a broker-dealer, a stock exchange, an exchange member firm, the Financial Industry Regulatory Authority (FINRA), or a municipal securities dealer, you must provide Fidelity with the company's name and address. In addition, if you are, or an immediate family/household member is, a director, corporate officer, or 10% shareholder of a publicly held company, or a control person of a publicly traded company under SEC Rule 144, you must notify Fidelity.