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Certification Updates

CFP Board Discloses Bankruptcies by CFP® Professionals

Jun 20, 2014

Washington, DC, June 20, 2014 – Certified Financial Planner Board of Standards, Inc. announces today the names of CFP® professionals who have declared bankruptcy within the last five years and, under rules that took effect July 1, 2012, are not subject to disciplinary procedures but will have their bankruptcy disclosed.

CFP Board does not investigate, and the Disciplinary and Ethics Commission does not adjudicate, bankruptcy-only cases. Rather, CFP Board verifies the bankruptcy and notes the bankruptcy filing on the CFP® professional’s public profile, which is available through the search functions on CFP Board’s website. CFP Board will also share with consumers and other stakeholders who contact CFP Board regarding a CFP® professional’s certification status the information in the CFP® professional’s public profile, including identifying whether the CFP® professional has filed bankruptcy. All disclosures regarding a bankruptcy filed by a CFP® professional will remain on CFP Board’s website for 10 years from the earlier of the date the CFP® professional disclosed the bankruptcy to CFP Board or the date CFP Board became aware of the bankruptcy.

The public may review an individual’s bankruptcy information and certification status with CFP Board at www.CFP.net/search. For more detail regarding a CFP® professional’s bankruptcy filing, please visit the U.S. Court’s Public Access to Court Electronic Records (“PACER”) website, which can be found at https://pacer.login.uscourts.gov/cgi-bin/login.pl?court_id=00pcl. Please note that you will be required to register and pay a nominal fee to view the information.

This disclosure of these names is made pursuant to CFP Board’s rules regarding single-bankruptcy cases and covers the first quarter of 2014. The release of the information below does not constitute discipline of these individuals and is provided only for purpose of providing consumers with adequate information to make an informed decision with regard to engaging a CFP® professional to assist with financial decisions.

 Name Location State Bankruptcy Type  Filing Date 
Mr. Travis N. Allen                      Portland OR Personal May 2012
Ms. Daurene Lee Las Vegas NV Personal December 2010
Mr. David Howard Le Maire Winston-Salem NC Personal October 2012
Mr. Robert Mauldin Santa Ana CA Personal December 2010
Mr. Bruce T. Schilling Jacksonville FL Personal August 2009
Mr. Luis J. Soto, Jr. Miami FL Personal September 2013
Ms. Shannon Nicole Stone Oakland CA Personal January 2010
Mr. James M. Weeks Denver CO Personal August 2013


ABOUT CFP BOARD

The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for competent and ethical personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® professionals and other stakeholders. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.  CFP Board currently authorizes more than 69,000 individuals to use these marks in the U.S.

CONTACT: Dan Drummond, Director of External Communications
P: 202-379-2252 M: 202-243-8621
E: ddrummond@cfpboard.org Twitter: @cfpboardmedia

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