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30009 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Professional Discipline
Standard(s) Violated: Article 4.6; Article 3(a); 4.3; Article 3(d); Article 3(e); Article 3(g)
Matter Type(s): Regulatory Action
Decision Date: 10/17/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he : 1) failed to disclose to CFP Board on multiple occasions that was the subject of an investigation by the state and that he entered into a Letter of Acceptance, Waiver and Consent (“AWC”) with the Financial Industry Regulatory Authority, Inc. (“FINRA” formerly known as the National Association of Securities Dealer, Inc. or “NASD”); and 2) failed to properly supervise an individual’s sale of complex products and unsuitable Class A mutual fund shares.

30033 – Anonymous Case History
Decision: Private Censure
Keyword(s): Disclosure to Clients; Fee-Only; Securities Laws Violation
Standard(s) Violated: Article Article 3(a); 4.3; 2.2(a); 2.1
Matter Type(s): Regulatory Action
Decision Date: 07/21/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) communicated, directly or indirectly, to clients or prospective clients misleading information directly or indirectly related to the certificant’s professional qualifications or services when he misrepresented his compensation structure as “fee-only” despite receiving commissions; 2) failed to disclose to prospective clients or clients an accurate and understandable description of the compensation arrangements being offered; 3) failed to separately invoice clients each time he withdrew his fee from the client’s account causing him to violate net-capital requirements; and 4) entered into, extended, or renewed investment advisory contracts which failed to disclose accurate advisory fees.

30034 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professionalism; Securities Laws Violation; Professional Discipline
Standard(s) Violated: Article 4.3; 4.1; Article 3(a); 1.4
Matter Type(s): Regulatory Action
Decision Date: 10/06/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he entered into a settlement with the State Department of Consumer and Business Services Division of Finance and Corporate Securities (“State”), in which State found Respondent charged unreasonable advisory fees on rare coins because he relied on an inaccurate source to value the coins.

30060 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Employer Policy Violation
Standard(s) Violated: Article 5.1; Article 3(a); 4.3; Article 3(d)
Matter Type(s): Termination
Decision Date: 07/29/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he executed two private securities transactions without obtaining prior approval from, or disclosing the private securities transactions to, Firm.

30072 – Anonymous Case History
Decision: Private Censure
Keyword(s): Securities Laws Violation; Professional Discipline; Suitability
Standard(s) Violated: Article 4.3; Article 3(a); 4.4
Matter Type(s): Regulatory Action
Decision Date: 07/21/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she advised others, for compensation, as to the value of securities or as to the advisability of investing in, purchasing or selling securities at a time when she was not registered as an investment adviser.

30180 – Anonymous Case History
Decision: Private Censure
Keyword(s): Securities Laws Violation; Failure to Notify CFP Board; Professional Discipline
Standard(s) Violated: Article Article 3(g); Article 3(a); 4.3
Matter Type(s): Regulatory Action
Summary: Respondent is the president and chief compliance officer of GFA, a State investment advisory firm. At all material times relevant to this Complaint, Respondent controlled GFA.

30676 – Anonymous Case History
Decision: Private Censure
Keyword(s): Securities Laws Violation; Disclosure to CFP Board; Employer Policy Violation; Unauthorized Transaction
Standard(s) Violated: Article Article 3(d); Article 3(a); 5.1; 4.3; 4.4
Matter Type(s): Regulatory Action; Employer Action; FINRA Regulatory Action; FINRA Discipline
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he (1) Executed transactions on behalf of clients without prior authorization from either the clients or Respondent’s firm; (2) traded securities in his own account receiving a better price on the same side of the market on the same day in violation of firm policy; and (3) failing to report Financial Industry Regulatory Authority (“FINRA”) and state regulatory actions against Respondent to CFP Board within 30 calendar days. 

28127 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Disclosure to CFP Board; Professional Discipline; Outside Business Activity
Standard(s) Violated: Article 6.5; 606(a); 406; 6.4; 606(b)
Matter Type(s): FINRA Discipline
Decision Date: 01/05/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) recommended that a client invest approximately $100,000 in an oil and gas joint venture, outside the scope of Respondent’s relationship with his Firm, and which resulted in the termination of Respondent’s employment; and 2) failed to disclose to CFP Board that he signed a FINRA AWC wherein he consented to a $5,000 fine and suspension from association with any Financial Industry Regulatory Authority, Inc. (“FINRA,” formerly known as the National Association of Securities Dealers or “NASD”) member in any capacity for a period of six months due to his outside business activities.

31003 – Anonymous Case History
Decision: Suspension
Keyword(s): Employer Policy Violation; Securities Laws Violation; Professional Discipline
Standard(s) Violated: Article Article 3(d); 5.1; 4.3
Matter Type(s): Employer Action; FINRA Discipline
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he drafted misleading contracts in order to hire an unregistered employee, in violation of the rules of the Financial Industry Regulatory Authority (“FINRA”) and his firm’s written policies.


30868 – Anonymous Case History
Decision: Suspension
Keyword(s): False-Statements-in-Forms-ADV; Custody-of-Client-Funds; Record-Keeping; Failure-to-Disclose; Securities Laws Violation; Misrepresentation
Standard(s) Violated: Article Article 3(e); Article 3(d); Article 3(a); 4.4; 4.3; 2.1; 1.4
Matter Type(s): Regulatory Action
Decision Date: 06/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) relied on the private fund adviser exemption from registration although he was not entitled to; (2) used Inflated Asset Valuations; (3) made misrepresentations on Forms ADV; (4) failed to have his firms submit to surprise examinations as required by the Securities and Exchange Commission’s (“SEC”) Custody Rule; (5) failed to have his firms comply with the SEC's Compliance Rule; (6) improperly used fund assets to pay his legal fees; (7) contracted to earn a performance fee for managing a fund, without determining whether the fund's investors were qualified clients; and (8) failed to disclose a SEC bar related to the foregoing conduct to CFP Board. 
 

29656 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Fiduciary Duty; Disclosure to Clients
Standard(s) Violated: Article 4.3; 1.4; Article 3(a); Article 3(f)
Matter Type(s): Civil Suit; Regulatory Action
Decision Date: 10/06/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he violated his fiduciary duty by failing to disclose material information regarding a company’s financial situation to clients to whom he recommended purchasing bonds issued by the company.

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