Page 1 of 1 , 9 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.


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.

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.

27227 – Anonymous Case History
Decision: Suspension
Keyword(s): Fitness; Employer Policy Violation; Supervision; Forgery; Bankruptcy
Standard(s) Violated: Article 5.1; 6.5; 4.3; Article 3(a); 4.1; 4.4
Matter Type(s): Civil Court
Decision Date: 07/20/2012
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conductwhen he: 1) filed for Chapter 7 Bankruptcy in 2010; 2) allowed clients to sign incomplete documents; and 3) allowed an assistant to add information to documents after clients had signed the document.

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.

28508 – Anonymous Case History
Decision: Private Censure
Keyword(s): Client's Best Interest; Supervision; Fraud Related to Professional Activity; Professionalism; Suitability
Standard(s) Violated: Article 201; 407(a); 705; 401(a); 703; 202; 607
Matter Type(s): FINRA Arbitration
Decision Date: 05/14/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) recommended the Biotech Company stock to Client without giving the client the prospectuses or PPMs for the penny stock investments: 2) sold the Biotech Company stock to Client without the knowledge or approval of Firm; 3) discouraged the Clients from selling the penny stocks, while he sold his own Biotech Company shares; 4) recommended to Client the loan to Biotech Company, a company in which he had a personal stake, without disclosing the inherent conflict of interest; and 5) personally reimbursed Client $30,000 as compensation for a loan recommendation he made to Client.

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.


30577 – Anonymous Case History
Decision: Private Censure
Keyword(s): Conflict of Interest
Standard(s) Violated: Article Article 3(a); 4.4; 4.3; 4.1
Matter Type(s): Other Professional Discipline
Decision Date: 10/18/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) filed a separate tax return for WF for 2013 after receiving a request by BS to file jointly and without informing BS that WF requested Respondent file a separate tax return for that tax year; and 2) improperly assessed a BS a fee for his services.  


29328 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professional Discipline; Failure to Register; Supervision; Disclosure to Clients
Standard(s) Violated: Article 4.6; 6.5; 4.3
Matter Type(s): Other Professional Discipline
Decision Date: 04/10/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) allowed an employee to act as an investment adviser representative without registration as an investment adviser representative; 2) failed to ensure that Firm’s annual updating amendments to the Form ADV were filed timely; 3) failed to ensure that Firm provided accurate account statements; 4) failed to amend his Form U4 timely to reflect the change of his residential address; 5) failed to ensure that Firm’s owners were properly disclosed on Form ADV; 6) failed to supervise Firm and his designee, JE, by virtue of his failure to ensure that the firm’s requisite annual reviews were conducted annually (i.e., 2011 and 2012), and when they were conducted (i.e., 2009 and 2010), they were reasonably designed to detect the numerous failures cited by SSC; and 7) entered into the Order with the SSC regarding violations of state securities laws and regulations.

Page 1 of 1 , 9 Items in Total