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CFP Board Censures Improper CFP® Certificant Conduct

Mar 05, 2010

WASHINGTON, DC, March 5, 2010 — Certified Financial Planner Board of Standards, Inc. announces that it has issued an interim suspension to Max J. Safdie of Mill Valley, California, suspending his right to use the CFP® certification marks, effective immediately.

On February 18, 2010, following a hearing by CFP Board’s Disciplinary and Ethics Commission (“Commission”), Mr. Safdie was issued an interim suspension of his right to use the CFP® certification marks. The Commission determined that Mr. Safdie failed to prove, by a preponderance of the evidence, that his right to use the CFP® certification marks should not be suspended during the pendency of CFP Board’s investigation. CFP Board initiated the interim suspension proceedings following notification by Mr. Safdie of his FINRA suspension for misrepresenting the financial qualifications of a family member to a loan officer. The Commission determined that Mr. Safdie’s conduct of misrepresenting his family member’s investments to a loan officer raised concerns about Mr. Safdie’s integrity and, therefore, impinges upon the stature and reputation of the CFP® certification marks. Under the interim suspension order, Mr. Safdie’s right to use the CFP® certification marks is suspended pending CFP Board’s completed investigation, and possible further disciplinary proceedings. The interim suspension order became effective on February 23, 2010.

Public disciplinary actions taken by CFP Board, in order of increasing severity, include letter of admonition, suspension, and permanent revocation. Consumers may check on any planner’s disciplinary history and certification status with CFP Board at www.CFP.net.

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 personal financial planning. The Board of Directors, in furthering CFP Board’s mission, acts on behalf of the public, CFP® certificants and other stakeholders. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and 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 60,000 individuals to use these marks in the United States. For more about CFP Board, visit www.CFP.net.

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CFP® - The Recognized Standard of Excellence in Personal Financial Planning

FOR IMMEDIATE RELEASE

CONTACT:
Michael P. Shaw, Managing Director, Professional Review and Legal
Phone: 202 379-2230
Email: mshaw@CFPBoard.org

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