1 2 3 4 5 Next Page 1 of 6 , 131 Items in Total
31059 – Anonymous Case History
Decision: Bar-from-Taking-CFP-Certification-Exam
Keyword(s): Employer Policy Violation; Settlement; Misrepresentation; Certification-Exam
Standard(s) Violated: Article Candidate-NDA-Violation; Application-Agreement-Violation
Matter Type(s): Exam
Decision Date: 02/01/2019
Summary:

Whether a CFP® professional violated the terms of the CFP® Exam Application and CFP Board’s Non-Disclosure Agreement for Candidates by engaging in exam-related misconduct when she (a) forged two documents indicating that she had passed the CFP® Exam when she had not; (b) communicated to her superiors and several colleagues that she had passed the CFP® Exam when she had not; and (c) asked for a pay raise based on her misrepresentation that she passed the CFP® Exam.


31176 – Anonymous Case History
Decision: Denied But Allow Reapplication; Denied Petition
Keyword(s): Misrepresentation; Public-Intoxication; DUI/DWI; Disclosure to CFP Board
Standard(s) Violated: Article Fitness-Standards
Matter Type(s): State Regulatory Action; Criminal
Decision Date: 02/01/2019
Summary:

Whether a candidate for CFP® certification (“Respondent”) should be certified when he had a history of alcohol-related convictions and arrests.


29758 – Anonymous Case History
Decision: Suspension
Keyword(s): Suitability; Professionalism; Professional Discipline; Client's Best Interest
Standard(s) Violated: Article 1.4; 4.4; Article 3(d); 4.3
Matter Type(s): FINRA Discipline; Client Dissatisfaction; FINRA Arbitration
Decision Date: 02/01/2019
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he recommended an investment strategy to an elderly client that was unsuitable because it unduly concentrated her portfolio in risky, leveraged precious metal products.


27565 – Anonymous Case History
Decision: Suspension
Keyword(s): Suitability; Diligence; Client's Best Interest; Professionalism
Standard(s) Violated: Article Article 3(b); Article 3(a); 703; 701; 202; 201
Matter Type(s): Complaint to CFP Board
Decision Date: 06/01/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to exercise reasonable and prudent judgment when he: 1) failed to properly analyze and account for the client’s needs and cash flow, 2) failed to include the costs of the VUL policies, variable annuities and REITs in his 2001 and 2008 financial plans; 3) recommended and sold to the client unsuitable VUL policies, variable annuities and REITs; and 4) placed the bulk of the client’s assets into long-term investments with high fees and expenses although the client’s primary objective was income.

25468 – Anonymous Case History
Keyword(s): Diligence; Misrepresentation; Employer Policy Violation
Standard(s) Violated: Article 6.5
Matter Type(s): Civil Court
Decision Date: 10/10/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) advised a client verbally and in documentation that the client owned assets the client did not actually own; and 2) shared in the client's losses to conceal the losses from the firm.

30941 – Anonymous Case History
Decision: Suspension
Keyword(s): Misrepresentation; Forgery
Standard(s) Violated: Article 5.1; 4.4; 4.3; 2.1
Matter Type(s): Employer Action
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he signed a client’s name on two checks without her knowledge or permission and presented the checks to his firm for deposit without obtaining the firm’s permission for signing on the client’s behalf.


30547 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Failure-to-Disclose-to-Firm; Client's Best Interest; Fiduciary Duty; Failure-to-Supervise
Standard(s) Violated: Article Article 3(g); Article 3(a); 6.1; 4.6; 5.1; 4.3; 6.5; 1.4
Matter Type(s): Employer-Investigation
Decision Date: 06/01/2018
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) failed to properly supervise subordinates, resulting in one subordinate being named as a beneficiary of several clients’ accounts, creating a conflict of interest; (2) was named as a beneficiary in several client accounts, in violation of firm policy; and (3) failed to disclose and obtain approval from his firm after he was named as a beneficiary of both client and non-client accounts.


30596 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Client's Best Interest; Fiduciary Duty
Standard(s) Violated: Article Article 3(a); 4.3
Matter Type(s): Regulatory Action
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) violated a State’s fiduciary rule by failing to refund prepaid and unearned fees in a timely manner, as stipulated by Respondent’s Forms ADV; (2) failed to provide notice to clients for the withholding of such fees over $500, in violation of State A’s rules; and (3) failed to provide each client with a compliant Form ADV.

30450 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Books and Records; Conflict of Interest; Disclosure to Clients; Client's Best Interest
Standard(s) Violated: Article Article 3(d); 4.4; 4.3; 2.2(b); 1.4; Article 3(a)
Matter Type(s): Regulatory Action; CFP Board
Decision Date: 10/02/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to: (a) seek best execution for clients when investing them in share classes that charged 12b-1 fees despite the availability of corresponding share classes without the fees; (b) disclose in his firm’s Forms ADV and advisory agreements the conflicts of interest that existed regarding his recommendations to clients of mutual funds that contained 12b-1 fees; and (c) perform required annual compliance reviews.


28882 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Diligence; Employer Policy Violation; Misrepresentation
Standard(s) Violated: Article Article 3(a); 6.5; 5.1; 4.4
Matter Type(s): Customer Complaint; Client Dissatisfaction
Decision Date: 06/01/2014
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he 1) executed a trade for a client at a later time and date than the client original requested; 2) misstated to the client his firm’s policy on management fees charged on cash balances; 3) directed his assistant to falsely state on a membership renewal application that he had no customer complaints within the last five years when he did; and 4) accepting a trade for a client via email.


11390 – Anonymous Case History
Decision: Suspension
Keyword(s): Arbitration; Failure to Notify CFP Board; Misappropriation; Breach of Contract; Bankruptcy; Misrepresentation; Forgery; Customer Complaints; Lawsuits Involving Financial Matters
Standard(s) Violated: Article 201; 607; Article 3(c); Article 3(a); 102; 606(b); Article 3(e)
Matter Type(s): Civil Court
Decision Date: 04/16/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) filed for Chapter 7 Bankruptcy; 2) was convicted of Operating a Motor Vehicle While Ability Impaired by Alcohol; and 3) was the subject of a series of arbitrations and customer complaints from 2001 through 2007.

12594 – Anonymous Case History
Decision: Suspension
Keyword(s): Professionalism; Churning; Misrepresentation; Professional Discipline; Bankruptcy; Suitability; Forgery; Employer Policy Violation; Customer Complaints; Fraud Related to Professional Activity; Unauthorized Transaction; Fitness; Disclosure to Clie
Standard(s) Violated: Article 2.1; 606(a); Article 3(a); 606(b); 201; 607; 406; 102
Matter Type(s): FINRA Arbitration
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) was the subject of at least five customer arbitrations alleging unsuitability, unauthorized trading, misrepresentation, churning, fraud and violations of both state and federal securities laws; 2) was alleged to have falsified customer account documents; 3) was permitted to resign from his firm due to unacceptable business practices; and 4) filed for Chapter 7 Bankruptcy.

15094 – Anonymous Case History
Decision: Suspension
Keyword(s): Misuse of the Marks; Lawsuits Involving Financial Matters; Arbitration; Customer Complaints; Disclosure to Clients; Suitability; Diligence; Professionalism; Misrepresentation
Standard(s) Violated: Article Article 3(a); 607; 601; 201; 704; 606(b); 701; 102
Matter Type(s): FINRA Arbitration
Decision Date: 08/11/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he: 1) recommended variable annuities to elderly clients; and 2) omitted the registered trademark symbol when referring to CFP® on his letterhead, certification salutations and documents.

15250 – Anonymous Case History
Decision: Dismiss--w/Caution
Keyword(s): Arbitration; Misrepresentation; Professional Discipline; Disclosure to CFP Board; Suitability; Employer Policy Violation
Matter Type(s): FINRA Arbitration
Decision Date: 04/04/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he was named in two customer complaints that resulted in a National Association of Securities Dealers arbitration.

16145 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Fraud Related to Professional Activity; Customer Complaints; Suitability; Settlement; Diligence; Record-Keeping; Fitness; Disclosure to Clients; Client's Best Interest; Lawsuits Involving Financial Matters; Negligence; Competency
Standard(s) Violated: Article 606(a); 201; 401(a); Article 3(a); 405; 402; 606(b); 607; 102
Matter Type(s): Client Dissatisfaction
Decision Date: 03/26/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) treated a client’s payments as nontaxable gifts rather than taxable income; 2) did not disclose the income on his 2000 and 2001 state and federal tax returns; 3) did not disclose to a client the potential for a conflict of interest in serving as the appointed trustee of a trust and as an investment adviser for the trust; 4) double and triple charged clients for services; and 5) failed to disclose commissions.

16502 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Fraud-Other; Unauthorized Transaction; Disclosure to Clients; Professionalism; Misrepresentation; Employer Policy Violation; Professional Discipline; Securities Laws Violation; Diligence
Standard(s) Violated: Article 406; 606(a); Article 3(a); 102; 704; 606(b); 607; 201; 701
Matter Type(s): Civil Court
Decision Date: 11/10/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he sold promissory notes without receiving prior approval from his firm, resulting in: 1) a National Association of Securities Dealers (“NASD”) bar; 2) two terminations; and 3) two civil suits being filed against him.

16726 – Anonymous Case History
Decision: Private Censure
Keyword(s): Lawsuits Involving Financial Matters; Disclosure to CFP Board; Misrepresentation; Professional Discipline; Arbitration
Standard(s) Violated: Article Article 3(a); 607; Article 3(g)
Matter Type(s): FINRA Discipline; Client Dissatisfaction
Decision Date: 11/30/2009
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) Made exaggerated statements and improper projections about clients’ accounts; 2) Prepared and/or used documents that had not been approved by a registered principal of Respondent’s firm; 3) Failed to retain records showing which sales materials were disseminated to customers; and 4) Failed to disclose a 2003 civil suit and a 2003 National Association of Securities Dealers (“NASD”) arbitration on the Declaration Section of his Initial Application for CFP® Certification.

17554 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fiduciary Duty; Settlement; Diligence; Misrepresentation; Breach of Contract; Negligence
Standard(s) Violated: Article 701
Matter Type(s): Civil Court
Decision Date: 08/18/2009
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he completed a client’s (“Client”) life insurance application inaccurately, resulting in the Client’s wife being denied benefits under the Client’s life insurance policy after the Client’s death.

18109 – Anonymous Case History
Decision: Granted Petition
Keyword(s): Misrepresentation; Fraud Related to Professional Activity; Professionalism; Professional Discipline
Standard(s) Violated: Article Article 3(c); Article 3(a); Article 3(e); 607; 102; 201; 606(a)
Matter Type(s): Civil Court
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards”) when he pleaded guilty to one count of conspiring to commit tax evasion and one count of tax evasion.

18767 – Anonymous Case History
Decision: Suspension
Keyword(s): Outside Business Activity; Misrepresentation; Professional Discipline; Commission/Compensation; Arbitration
Standard(s) Violated: Article 607; Article 3(a); 701; 406; Article 3(e); Article 3(d); 606(a); 606(b); 102; 201; 202; 405
Matter Type(s): FINRA Arbitration
Decision Date: 04/26/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he violated: 1) sections of the State Securities Act by selling unregistered securities; 2) the 2004 State Securities Board (“SSB”) Undertaking and 2005 SSB Order regarding supervision; 3) the 2004 SSB Undertaking and sections of the State Securities Act by failing to fully complete forms before obtaining client signatures; 4) sections of the State Securities Act by failing to disclose required information on his Form U4 and making material misrepresentations to the State Commissioner; 5) the 2004 SSB Undertaking and 2005 SSB Order by engaging in unsuitable transactions; and 6) National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority or “FINRA”) Conduct Rules by accepting a gift and/or gratuity in excess of $100 and charging clients both investment advisory fees and prohibited commissions.

18861 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Settlement; Professional Discipline; Professionalism; Misrepresentation; Diligence
Standard(s) Violated: Article 701; Article 3(a); 607; 606(b); 102; 201; 606(a)
Matter Type(s): Professionalism
Decision Date: 11/07/2008
Summary: Whether CFP® certificant (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he inaccurately completed a health insurance application for a client (“Client”), leading to rescission of the Client’s coverage and Respondent’s violation of a state statutory provision.

19075 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Fiduciary Duty; Professionalism; Commission/Compensation; Disclosure to Clients; Commingling; Suitability; Diligence; Client's Best Interest; Fitness
Standard(s) Violated: Article 402; 610; 607; 703; 103(e); 702(a); Article 3(a); 201; 405; 701; 103(d); 202
Matter Type(s): Client Dissatisfaction; Professionalism; Civil Court
Decision Date: 08/13/2009
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards”) when he performed financial planning services for a client’s (“Client”) father (“Client’s Father”) without providing to the Client’s Father a written financial planning agreement and written disclosures and when he received the Client’s Father’s funds through a bank account controlled by Respondent.

19812 – Anonymous Case History
Decision: Private Censure
Keyword(s): Diligence; Settlement; Lawsuits Involving Financial Matters; Negligence; Misrepresentation; Breach of Contract; Fiduciary Duty
Standard(s) Violated: Article 701
Matter Type(s): Civil Court
Decision Date: 08/24/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when a state civil court found him liable for violation of a state Consumer Protection Act after the wife of a former client (“Client”) lost her claim for benefits due to an inaccurate answer on the Client’s life insurance application.

19834 – Anonymous Case History
Decision: Private Censure
Keyword(s): Employer Policy Violation; Misrepresentation; Professionalism; Professional Discipline; Diligence; Fraud Related to Professional Activity
Standard(s) Violated: Article 606(a); 606(b); 406; 102; Article 3(a); 201; 607; 701
Matter Type(s): FINRA Discipline
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he obtained waivers of Contingent Deferred Sales Charges (“CDSCs”) for approximately 14 customers by claiming that these customers were disabled, when, in fact, they were not.

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