Page 1 of 1 , 6 Items in Total
14399 – Anonymous Case History
Decision: Suspension
Keyword(s): Record-Keeping; Failure to Notify CFP Board; Outside Business Activity; Previous Discipline; Conflict of Interest
Standard(s) Violated: Article 406; Article 3(a); 606(a); Article 3(e); 607; 606(b); 407(a)
Matter Type(s): FINRA Arbitration; Civil Court
Decision Date: 08/10/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he conducted outside business activities without disclosing them to his employer and without obtaining his employer’s approval.

22305 – Anonymous Case History
Decision: Suspension
Keyword(s): Diligence; Employer Policy Violation; Conflict of Interest; Borrowing from Client
Standard(s) Violated: Article Article 3(a); 406; 201; 606(b); 409; 607
Matter Type(s): Professionalism; Civil Court
Decision Date: 04/06/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) accepted a $100,000 loan from a client, which violated his firm's policy against borrowing from clients; 2) failed to repay the client's loan according to the original terms of the promssory note; 3) failed to disclose any potential conflicts of interest and the risks associated with the promissory note; 4) failed to determine whether the promissory note he executed with his client was appropriate for his client; 5) allowed the client to purchase a piece of real estate for Respondent's benefit; and 6) failed to disclose any potential conflicts of interest and the risks associated with the client's purchase of a piece of real estate.

22866 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to Clients; Conflict of Interest; Client's Best Interest; Diligence; Suitability; Misrepresentation
Standard(s) Violated: Article 102; 607; 202; 606(b); 201; 701; 703; Article 3(a)
Matter Type(s): FINRA Arbitration
Decision Date: 12/28/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to disclose in the financial planning agreement that his employer had a material conflict of interest because it maintained “preferred supplier” relationships in which it received financial bonuses for selling the “preferred suppliers’” products that were in excess of the financial compensation it received for selling other products; 2) failed to provide the client with sufficient alternatives to his investment recommendations; 3) implemented his investment recommendations prior to presenting the client with the initial financial plan; and 4) placed a majority of the client’s assets in deferred annuities, which did not provide a regular income stream to meet the client’s projected expenses and did not meet their goal of minimizing estate taxes.

23323 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Diligence; Outside Business Activity; Failure to Notify CFP Board; Fitness; Professional Discipline; Commingling; Fraud Related to Professional Activity; Employer Policy Violation
Standard(s) Violated: Article 606(b); 103(d); 406; 606(a); 607; Article 3(d); 102; Article 3(e); Article 3(a); 201
Matter Type(s): Other Professional Discipline
Decision Date: 04/19/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he engaged in unauthorized outside business activities resulting in a fine and a suspension of his securities, insurance, and investment advisor licenses for 30 days.

28393 – Anonymous Case History
Decision: Suspension
Keyword(s): Settlement; Professionalism; Securities Laws Violation; Misrepresentation; Employer Policy Violation
Standard(s) Violated: Article 102; 201; 606(a); 406; 607
Matter Type(s): FINRA Discipline
Decision Date: 03/27/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) sent emails to two clients in connection with their purchase of Secured Loan Fund (“SLF”) that contained statements indicating that SLF’s had excellent liquidity; 2) sent an email to a third client that contained statements regarding the safety of SLF; and 3) caused a client’s account records to reflect false annual income and net worth information, causing the business records maintained by RIB to be inaccurate.

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.

Page 1 of 1 , 6 Items in Total