The names of all CERTIFIED FINANCIAL PLANNER™ [professionals] who file for bankruptcy will be publicly available under rule changes announced on Thursday by the group that oversees CFP[® professionals].

Previously, the Certified Financial Planner Board of Standards, a nonprofit based in Washington, would only release the names of CFP[® professionals] who had been publicly sanctioned for having a bankruptcy filing.

CFP[® professionals] could avoid this public sanction by convincing the board that the bankruptcy was not their fault, for example, because it resulted from medical costs. A few of the 49 CFP[® professionals] investigated last year were able to keep their sanctions private, the board said. Read more >

Reuters
Jennifer Hoyt Cummings
April 5, 2012