Page 1 of 1 , 11 Items in Total
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.


19994 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Outside Business Activity; Misrepresentation; Disclosure to Clients; Employer Policy Violation; Failure to Respond to CFP Board; Conflict of Interest
Standard(s) Violated: Article Article 3(a); 201; 409; 406; 607; 102; Article 3(f); 606(b); 407(a); 408
Matter Type(s): Professionalism; Client Dissatisfaction; Civil Court
Decision Date: 04/07/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when she sold an interest-bearing promissory note to her client (“Client”) that she represented to the Client as a limited liability interest in a real estate investment venture.

22451 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Competency; Employer Policy Violation; Professional Discipline; Commission/Compensation; Suitability; Failure to Respond to CFP Board; Failure to Notify CFP Board; Disclosure to CFP Board; Conflict of Interest; Disclosure to Clients
Standard(s) Violated: Article 302; 401(a); 606(a); 408; 406; Article 3(d); 201; Article 3(e); Article 3(f)
Matter Type(s): Client Dissatisfaction; FINRA Arbitration
Decision Date: 08/10/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he: 1) sold promissory notes to individuals who were not customers of his broker-dealer (“Broker-Dealer”) without notice to the Broker-Dealer; and 2) received compensation for the sale of the promissory notes without permission from the Broker-Dealer.

24933 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Disclosure to Clients; Fitness; Customer Complaints; Unauthorized Transaction; Professionalism; Diligence
Standard(s) Violated: Article Article 3(a); 4.4; 6.5; 2.2(b)
Matter Type(s): Client Dissatisfaction
Decision Date: 06/21/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) made unauthorized trades by liquidating a deceased client’s trust account causing the trust to incur commissions; 2) was unaware that the bank trustee could have contacted the broker-dealer directly to avoid transaction costs; and 3) agreed to accept $200,000 as a beneficiary of the client’s trust account, while maintaining his role advisor to the trust.

25123 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fitness; Commission/Compensation; Employer Policy Violation; Professional Discipline; Misrepresentation; Outside Business Activity
Standard(s) Violated: Article 408; 606(a); 201; 607; 407(a); Article 3(a); 102; 406; 606(b)
Matter Type(s): Other Professional Discipline
Decision Date: 03/25/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) transacted business in the State without being properly registered as an agent of the issuer; 2) offered and sold unregistered securities of the issuer; and 3) entered into a Letter of Engagement with Controlling Company, in violation of his broker-dealer’s internal policy.

26284 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to CFP Board; Professionalism; Professional Discipline; Unauthorized Transaction; Suitability; Employer Policy Violation; Diligence
Standard(s) Violated: Article 406; Article 3(d); 606(a); Article 3(g); Article 3(a); 703; 201; 701; Article 3(e); 607; 606(b)
Matter Type(s): FINRA Discipline
Decision Date: 10/17/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to execute trade orders and executed an unauthorized transaction in a client’s account; 2) exercised discretion in a client’s account without prior written authorization from the client to exercise discretion in her account; and 3) violated NASD Conduct Rules 2110 and 2510(b) and IM-2310-2, which resulted in a three-month suspension from FINRA in any capacity.

28285 – Anonymous Case History
Decision: Suspension
Keyword(s): Conflict of Interest; Professional Discipline; Outside Business Activity; Commission/Compensation; Employer Policy Violation; Client's Best Interest
Standard(s) Violated: Article 2.2(b); 6.5; 1.4; 5.1; 4.4; 4.3
Matter Type(s): FINRA Discipline
Decision Date: 09/10/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) engaged in an outside business activity without providing notice and receiving prior written approval from his Firm; and 2) falsely certified to his broker-dealer that he was not engaged in outside business activity.

30047 – Anonymous Case History
Decision: Revocation
Keyword(s): Commission/Compensation; Fiduciary Duty; civil-judgements; Customer Complaints; Judgment Lien
Standard(s) Violated: Article 1.4; 4.1; 4.3; 4.5; 400-2; 500-2; Article-13.2; Article 3(g)
Matter Type(s): Customer Complaint; Other Professional Discipline; Liens and judgments
Decision Date: 04/01/2019
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he was permanently barred by a state securities commissioner for 1) unreasonable fees and Breach of Fiduciary Duty for collecting a management fee of $39,727.95 while client accounts earned $332.46 money market interest, 2) failing to maintain a positive net worth at all times and failing to disclose it, and 3) failing to disclose two civil judgments and two customer complaints.


29246 – Anonymous Case History
Decision: Suspension
Keyword(s): Fiduciary Duty; Misrepresentation; Commission/Compensation; Conflict of Interest; Professional Discipline; Suitability; Securities Laws Violation
Standard(s) Violated: Article 4.5; 2.1; 2.2(a); 2.2(b); 4.3; 1.4; Article 3(d)
Matter Type(s): Other Professional Discipline
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct by making material misstatements and omissions to their clients while recommending that the clients invest in what was found to be a Ponzi-like investment scheme.


30255 – Anonymous Case History
Decision: Suspension
Keyword(s): Unauthorized Transaction; Employer Policy Violation; Failure to Notify CFP Board; Professional Discipline
Standard(s) Violated: Article Article 3(e); 5.1; 4.3; Article 3(g); Article 3(d); Article 3(a)
Matter Type(s): Regulatory Action
Decision Date: 02/28/2017
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he participated in private securities transactions by investing and facilitating investments for six other investors, including clients without providing his firm with written notice of, or receiving approval to participate in, the private securities transactions.

30640 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professional Discipline; Unauthorized Transaction
Standard(s) Violated: Article 4.3; 5.1; Article 3(a); Article 3(d); Article 3(g)
Matter Type(s): FINRA Regulatory Action
Decision Date: 10/18/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he exercised discretion without written authorization in numerous customer accounts. 


Page 1 of 1 , 11 Items in Total