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CFP Board Adopts Amendments to its Disciplinary Rules and Procedures and Appeal Rules and Procedures, Effective January 1, 2013

Nov 30, 2012

In November 2012, CFP Board's Board of Directors approved the adoption of amendments to CFP Board's Disciplinary Rules and Procedures (Disciplinary Rules) and its Appeal Rules and Procedures (Appeal Rules), with an effective date of January 1, 2013.

The amendments to the Disciplinary Rules clarify ambiguities, eliminate inconsistencies and ensure that CFP Board's disciplinary process is fair and credible to all participants. Through its Disciplinary Rules CFP Board enforces the Code of Ethics and Professional Responsibility, Rules of Conduct and Financial Planning Practice Standards and establishes a process for applying the Standards of Professional Conduct to actual professional activities.

The approval of the amendments to the Disciplinary Rules by the Board of Directors follows the careful and thoughtful review of comments received during a 45-day comment period held from August 2012 through October 2012. During that comment period, CFP Board received a total of nine comments. A Majority of the commenters approved of the amendments to the Disciplinary Rules. CFP Board appreciates everyone who took time to provide feedback on the proposed amendments to the Disciplinary Rules during the comment period.

Read the full text of CFP Board's Disciplinary Rules and Procedures (PDF, 109KB)
Read comments received by CFP Board (PDF, 61KB)

The amendments to the Appeal Rules streamline the appeal process, clarify the "clearly erroneous" standard of review and ensure that CFP Board's appeal process is fair and credible to all participants. The Appeal Rules govern the procedure of appeals from orders of CFP Board's Disciplinary and Ethics Commission and appeals from Administrative Orders issued by CFP Board.

The approval of the amendments to the Appeal Rules by the Board of Directors follows the careful and thoughtful review of comments received during a 45-day comment period held from August 2012 through October 2012. During that comment period, CFP Board received a total of 10 comments. A majority of the commenters did not oppose the amendments to the Appeal Rules. CFP Board appreciates everyone who took time to provide feedback on the proposed amendments to the Appeal Rules during the comment period

Read the full text of CFP Board's Appeal Rules and Procedures (PDF, 73KB
Read comments received by CFP Board (PDF, 56KB)

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