Professional Standards and Enforcement

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Ethical Standards & Enforcement

NEW CODE OF ETHICS AND STANDARDS OF CONDUCT NOW EFFECTIVE

The new Code and Standards became effective 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.

The enforcement date for the new Code and Standards is June 30, 2020. For conduct that occurs between October 1, 2019 and June 29, 2020, CFP Board will continue to enforce violations of the previous Standards of Professional Conduct. Starting June 30, 2020 and onward, CFP® professionals will then be subject to potential disciplinary action for any violations of the new Code and Standards.

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The final component of the initial CFP® certification process is the ethics requirement. CFP® certification requires you to agree to adhere to CFP Board's Code of Ethics and Standards of Conduct – and to acknowledge CFP Board's right to enforce them through its Disciplinary Rules and Procedures. By signing the CFP® Certification Application, individuals agree to be bound by CFP Board's Code of Ethics and Standards of Conduct. This demonstrates to the public that you have agreed to provide personal financial planning in the client's best interest and to act in accordance with high ethical and professional standards for the practice of financial planning.

Before being authorized to use the CFP® certification marks, and each time you renew your certification, you must disclose whether you have ever been involved in any criminal, civil, self-regulatory organization or governmental agency inquiry, investigation or proceeding. You must also acknowledge the right of CFP Board to enforce its Code of Ethics and Standards of Conduct.

Applicants for CFP® certification are required to pass CFP Board’s Fitness Standards for Candidates and Professionals Eligible for Reinstatement, which describe conduct that: 1) is unacceptable and will always bar an individual from becoming certified; and 2) is presumed to be unacceptable and will bar an individual from becoming certified unless the individual successfully petitions CFP Board’s Disciplinary and Ethics Commission for consideration.

Please be aware that, if you disclose matters on your CFP® Certification Application, or if CFP Board discovers that you have been involved in matters that are presumed unacceptable under the Fitness Standards or that may reflect adversely upon the profession or the CFP® certification marks, your certification may be delayed pending CFP Board's review of the matters. Additionally, if the matters involve serious misconduct, CFP Board reserves the right to permanently deny you the right to obtain the CFP® certification. All such ethics reviews will be conducted in accordance with CFP Board's Disciplinary Rules and Procedures.

Verification of Data

CFP Board may verify your employment record, qualifications and disciplinary history through FINRA's BrokerCheck® database. All disciplinary information obtained will be reviewed by CFP Board. The length of the review process varies depending on the circumstances being investigated, and may take anywhere from several weeks to one year. In general, you will not be authorized to use the CFP® marks during CFP Board's review process.

If you have questions about the effect of any of your past or pending disciplinary actions, or your authorization to use the CFP® marks, contact CFP Board at 800-487-1497 or initialcert@cfpboard.org. Because of changing codes or regulations and the fact that every situation contains unique variables, CFP Board cannot provide you with an advance judgment of your situation. However, historical case studies of disciplinary actions taken by CFP Board against those it has certified are available from CFP Board.

Review Anonymous Case History records

Exam Dates

Upcoming:

CFP® Certification Examination
November 5-12, 2019

Most Recent Exam:

CFP® Certification Examination
July 9-16, 2019

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