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13449 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professional Discipline; Professionalism; Lawsuits Involving Financial Matters; Suitability; Arbitration
Standard(s) Violated: Article 201; Article 3(a); 606(b)
Matter Type(s): FINRA Arbitration
Decision Date: 06/21/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards Standards of Professional Conduct when he: 1) recommended clients over-concentrate their assets in annuities; 2) failed to adequately supervise while serving as both a broker-dealer principal and compliance officer of a broker-dealer in twenty-two states with fifty brokers and five registered investment advisors; 3) violated the state securities act (“Act”) resulting in a Settlement Order (“Order”); and 4) was named in a National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority or “FINRA”) Arbitration.

19888 – Anonymous Case History
Decision: Private Censure
Keyword(s): Suitability; Arbitration; Professionalism
Standard(s) Violated: Article 606(b); 201; 607
Matter Type(s): FINRA Arbitration
Decision Date: 08/11/2008
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he invested all of the life savings of a client in variable annuities.

21781 – Anonymous Case History
Decision: Private Censure
Keyword(s): Employer Policy Violation; Record-Keeping; Conflict of Interest; Securities Laws Violation; Professional Discipline; Disclosure to Clients
Standard(s) Violated: Article 607; 606(b); 606(a); 406
Matter Type(s): SEC Discipline
Decision Date: 03/27/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he caused his firm to violate record-keeping provisions of the Investment Advisers Act of 1940.

23777 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professionalism; Suitability; Fitness; Customer Complaints; Professional Discipline
Standard(s) Violated: Article Article 3(a); 201; 606(b); 607; 606(a)
Matter Type(s): Other Professional Discipline
Decision Date: 08/11/2010
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when his recommendation resulted in 70% of the clients’ assets being invested in annuities.

24265 – Anonymous Case History
Decision: Private Censure
Keyword(s): Client's Best Interest; Negligence; Suitability; Diligence
Standard(s) Violated: Article 704; 201; 606(b); Article 3(a)
Matter Type(s): Professionalism
Decision Date: 11/28/2011
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) recommended that the client ("Client") replace her existing mutual funds with a variable annuity, thereby incurring additional fees and charges; 2) failed to research alternative options that would have been more beneficial to Client; and 3) placed over 75% of Client's investment assets in a long-term variable annuity with limited liquidity.

25530 – Anonymous Case History
Decision: Private Censure
Keyword(s): Arbitration; Suitability; Disclosure to CFP Board
Standard(s) Violated: Article 607; 703; 201; 606(b); 6.3; 102; 202
Matter Type(s): FINRA Arbitration
Decision Date: 04/03/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) sold a client a variable annuity, which resulted in the concentration of the client’s assets in variable annuities and 10% early withdrawal penalties on the client’s monthly withdrawals; 2) held himself out as a financial planner providing comprehensive financial planning services but did not provide financial planning services to the client; and 3) failed to notify CFP Board of a change in his contact information within 45 days, in violation of Rule 6.3.

27037 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professional Discipline; Forgery; Suitability; Securities Laws Violation; Employer Policy Violation; Failure to Notify CFP Board
Standard(s) Violated: Article 606(a); 202; 6.5; 405; 607; 606(b); 201; 701; 406
Matter Type(s): FINRA Arbitration
Decision Date: 09/13/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) sold 20,000 stock put options in SH and YH’s account, resulting in a total unrealized loss of $430,000 and a realized loss of almost $2 million; 2) charged SH and YH full commissions on their trades when they should have been entitled to discounted rates based on the size of their investment accounts; 3) charged SH and YH an exorbitant fee of 8% a year; 4) altered the clients’ new account forms with White-out, causing Firm to retain and preserve altered records and causing him to be suspended by Financial Industry Regulatory Authority (“FINRA”) for violation of firm policy and National Association of Securities Dealers (“NASD”) Conduct Rules 2110 and 3110; and 5) failed to report his FINRA suspension within 30 days.

27453 – Anonymous Case History
Decision: Private Censure
Keyword(s): Conflict of Interest; Failure to Cooperate with Staff; Client's Best Interest; Lawsuits Involving Financial Matters
Standard(s) Violated: Article 202; 102; 201; 6.5; 702(a); 606(b); 6.1; 607
Matter Type(s): Civil Court
Decision Date: 09/17/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) assisted a client to amend his living trust and pour-over will that provided compensation and assets to the client’s life partner and multiple charities; and 2) failed to respond to CFP Board’s requests for information.

Page 1 of 1 , 8 Items in Total