< Read more CFP Board Report Updates
 
CFP Board

August 6, 2012

 

Dear Colleague,

CFP Board requests comments on proposed changes to its Rules and Procedures of the Appeal Panel (Appeal Rules) and Disciplinary Rules and Procedures (Disciplinary Rules). The proposed revisions were developed as part of a comprehensive review of CFP Board’s enforcement process conducted in 2011 by outside counsel. We invite you to review the proposed revisions and share with CFP Board your comments on the proposals.

Written comments on the revisions must be submitted no later than September 20, 2012, to be considered.

Overview of Proposed Revisions to Appeal Rules

The Appeal Rules outline CFP Board’s procedures for appealing a decision of CFP Board’s Disciplinary and Ethics Commission (DEC). The proposed revisions are intended to incorporate the recommendations of outside counsel and generally strengthen CFP Board’s appeal process.

Additional details of this proposal are available on CFP Board’s website at:
www.CFP.net/downloads/CFPBoard_Appeal_Rules_Proposal_2012-08.pdf (PDF, 117KB)

Overview of Proposed Revisions to Disciplinary Rules

The Disciplinary Rules outline CFP Board’s procedures for enforcing its Code of Ethics and Professional Responsibility, Rules of Conduct and Financial Planning Practice Standards, which establish standards of ethical conduct for CFP® professionals. Earlier in 2012, an initial round of revisions to the Disciplinary Rules was announced, following a 45-day public comment period held in 2011. The proposed revisions are intended to incorporate the remaining recommendations stemming from the 2011 review by outside counsel and generally strengthen CFP Board’s investigative and hearing processes.

Additional details of this proposal are available on CFP Board’s website at:
www.CFP.net/downloads/CFPBoard_Disciplinary_Rules_Proposal_2012-08.pdf (PDF, 364KB)

Comment Submission Guidelines
Any individual or group wishing to comment on the proposal should submit written comments no later than September 20, 2012. Comments may be sent to CFP Board by email to compliance@cfpboard.org or by mail to:

CFP Board
c/o Michael P. Shaw, Esq.
Managing Director, Professional Standards and Legal
1425 K St. NW #500
Washington, DC 20005

Comments received will be reviewed and considered by CFP Board and will be posted on CFP Board’s website in their entirety. Final proposed changes are expected to be presented to the Board of Directors for approval in November 2012.

We appreciate the opinions of all CFP Board's stakeholders and welcome your comments on this proposal.

Sincerely,

CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS, INC.
mail@cfpboard.org
P 800-487-1497 • F 202-379-2299 • CFP.NET
1425 K STREET, NW #500 • WASHINGTON, DC 20005
 
Retirement. Budgeting. Taxes. Investments. Estate planning. Insurance.
Let's make a plan.


Certified Financial Planner Board of Standards Inc. 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 initial and ongoing certification requirements.