Page 1 of 1 , 10 Items in Total
31185 – Anonymous Case History
Decision: Suspension
Keyword(s): Suitability; Professional Discipline; Unreasonable-Assumptions; Fiduciary Duty; Due-Diligence; Client Neglect
Standard(s) Violated: Article Article 3(d); 4.5; 4.3
Matter Type(s): Employer-Investigation; FINRA Arbitration
Decision Date: 02/01/2019
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he made recommendations for short-term trading of Unit Investment Trusts that were unsuitable in view of the frequency and cost of the transactions, which caused clients to incur unnecessary sales charges.


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.

19872 – Anonymous Case History
Decision: Suspension
Keyword(s): Fitness; Misrepresentation; Advertising; Disclosure to Clients; Professional Discipline; Fraud Related to Professional Activity; Diligence
Standard(s) Violated: Article Article 3(a); 101(b); 201; 402; 607; 606(b); 102; 606(a); 705; 401(a)
Matter Type(s): Professionalism
Decision Date: 03/26/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he knowingly offering securities despite inaccurate financial projections set forth in a private placement memorandum.

22986 – Anonymous Case History
Decision: Suspension
Keyword(s): Interim Suspension; Professional Discipline; Outside Business Activity; Misrepresentation; Professionalism; Disclosure to Clients; Employer Policy Violation; Fraud Related to Professional Activity; Suitability; Disclosure to CFP Board
Standard(s) Violated: Article 612; Article 3(e); 607; Article 3(a); 201; 606(a); 401(a); Article 3(d); 102; 606(b)
Matter Type(s): FINRA Discipline; Other Professional Discipline
Decision Date: 12/08/2010
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) engaged in outside business activities without obtaining written approval from her employer; 2) did not notify CFP Board of her suspension; 3) recommended that her clients invest in promissory notes issued by her son’s company; and 4) did not disclose risks and other material and relevant information regarding the promissory notes to her clients.

25999 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Customer Complaints; Suitability; Professional Discipline
Standard(s) Violated: Article 1.4; 4.3; 4.5; 6.5; 4.4; 3.3
Matter Type(s): FINRA Arbitration
Decision Date: 12/05/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he recommended that clients purchase a high-risk illiquid security without researching the financial condition of the firm proving financial support of the investment.

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.

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.


27713 – Anonymous Case History
Decision: Suspension
Keyword(s): Customer Complaints; Professional Discipline; Suitability
Standard(s) Violated: Article 1.4; 201; 4.5; 6.5
Decision Date: 06/12/2017
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he recommended and sold clients alternative investments that resulted in an unsuitable concentration of the clients’ assets in alternative investments and were unsuitable due to the clients’ ages, risk tolerances, and investment objectives.

30197 – Anonymous Case History
Decision: Suspension
Keyword(s): Failure to Notify CFP Board; Employer Policy Violation; Suitability; Professional Discipline
Standard(s) Violated: Article 4.5; 5.1; 4.3; Article 3(a); Article 3(g); Article 3(d); Article 3(e)
Matter Type(s): Regulatory Action; Termination
Decision Date: 04/10/2017
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to make and/or implement only recommendations that are suitable for the client by recommending and selling an unsuitable investment to a brokerage customer who lost money on an investment he admitted was inconsistent with her goals and objectives.

30628 – Anonymous Case History
Decision: Suspension
Keyword(s): Failure to Respond to CFP Board; Misrepresentation; Professionalism; Diligence; Suitability; Fiduciary Duty; Client's Best Interest
Standard(s) Violated: Article 4.5; Article 3(b); Article 3(f); 701; 400-3; 4.4; 300-1; 202; 2.1; 1.4
Matter Type(s): Customer Complaint; Complaint to CFP Board
Decision Date: 02/01/2019
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he repeatedly and over the course of time failed to act in the interest of his client because he: (a) did not provide the client with the financial planning services outlined in the Financial Planning Agreement; (b) failed to schedule annual portfolio reviews with a client to consider whether her current holdings matched her current priorities; and (c) failed to update the client’s portfolio based upon her changed circumstances after she lost her job, became ill, and grew increasingly closer to retirement.


Page 1 of 1 , 10 Items in Total