Proposed Standards

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Proposed Standards

CFP BOARD ADOPTS NEW CODE OF ETHICS AND STANDARDS OF CONDUCT

The new Code and Standards takes effect Oct. 1, 2019, and includes a range of important changes, including expanding the scope of the fiduciary standard that requires CFP® professionals to act in the best interest of the client at all times when providing financial advice.  Learn More

Proposed Revisions to CFP Board’s Standards of Professional Conduct

CFP Board appreciates everyone who provided feedback on the revised proposed Code of Ethics and Standards of Conduct that was released for public comment in December 2017. The comment period ended on February 2, 2018.

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An Annotated Version of the revised proposed Code and Standards offers an outline of the proposed revisions, along with useful context and discussion. Public comments received during the public comment period are also available for review.

Read the Annotated Version

View the Public Comments

About the Proposed Revisions

In order for individuals to receive CFP® certification from CFP Board, they must agree to the high standards for competency and ethics that are set forth in the Standards of Professional Conduct, which are an important element of the public's trust and confidence in CFP® professionals. The current version of the Standards has been in effect for compliance purposes since January 2009.

CFP Board periodically reviews the Standards to maintain the value, integrity and relevance of the CFP® certification. In December 2015, CFP Board announced that a Commission on Standards was formed for the purpose of reviewing and recommending to the Board of Directors proposed changes to the Standards. Through a deliberate and inclusive process led by the Commission, CFP Board has developed proposed revisions to the Standards that are intended to enhance the integrity and value of CFP® professionals to the clients and communities they serve.

CFP Board issued an initial proposal of revisions to the Standards on June 20, 2017, for a 60-day comment period. CFP Board received more than 1,300 comments. After reviewing the comments, which generated material changes to the initial proposal, a revised proposal was released for additional comment. 

The revised proposal, titled Code of Ethics and Standards of Conduct, is a significant revision to the Standards with a range of important changes, including broadening the fiduciary standard for CFP® professionals—effectively requiring CFP® professionals to put a client’s interest first at all times. The revised proposal includes changes to some of the disclosure and other requirements in the initial proposal, in recognition of the need to be practical in considering changes to CFP Board’s Standards and to ensure the revised proposal focuses primarily on standards governing the provision of Financial Advice to actual Clients.

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