2006 Exposure Draft of Proposed Revisions to CFP Board's Ethical Standards

On July 24, 2006, Certified Financial Planner Board of Standards, Inc. (CFP Board) released revisions its Board of Directors was considering to CFP Board's Code of Ethics and Professional Responsibility and Financial Planning Practice Standards for a 60-day public comment period, inviting interested individuals and groups to submit written comments on the proposed changes. The comment period ended on September 25, 2006, and more than 300 comments were received.

CFP Board appreciates the time and careful attention spent by those who submitted comments and assures all CFP Board stakeholders that CFP Board is committed to insuring that CFP® certification remains a standard of excellence for competent and ethical financial planning.

On March 9, 2007, the Board of Directors released a Second Exposure Draft that included proposed changes based on feedback received in response to the 2006 Exposure Draft. Comments on the Second Exposure Draft were accepted through April 25, 2007. The Board of Directors reviewed the comments at its meeting in May 2007 and voted to adopt an updated Standards of Professional Conduct with an effective date of July 1, 2008.

The 2006 Exposure Draft of proposed revisions and related documents are available below for download and review.

2006 Exposure Draft and Related Documents:

2006 Exposure Draft Overview (73 KB PDF file)

Attachment A - 2006 Exposure Draft (178 KB PDF file)

Attachment B - Notice and Request for Comment (37 KB PDF file)

Attachment C - Current Code and Standards (471 KB PDF file)

Summary of Comments on 2006 Exposure Draft (134 KB PDF file)

Comments on 2006 Exposure Draft