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30897 – Anonymous Case History
Decision: Suspension
Keyword(s): Failure-to-Respond-to-Staff; Failure to Cooperate with Staff; Bankruptcy; Tax-Lien
Standard(s) Violated: Article Article 3(f); Article 3(a); 6.5
Decision Date: 06/12/2018
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) incurred 2016 and 2017 IRS tax liens; (2) filed for Chapter 13 Bankruptcy in 2018; and (3) failed to timely and adequately respond to CFP Board’s Notices of Investigation.


30337 – Anonymous Case History
Decision: Suspension
Keyword(s): Failure to Notify CFP Board; Suitability
Standard(s) Violated: Article 500-2; 400-3; 400-1; Article 3(g); Article 3(b); Article 3(a); 703; 607; 202; 201
Matter Type(s): FINRA Arbitration; Arbitration; Failure to Disclose to CFP Board
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) made unsuitable investments on behalf of his client—resulting in an overconcentration of the client’s principal— which was in contradiction to the client’s risk tolerance and investment goals; and (2) failed to disclose the related FINRA arbitration settlement to CFP Board. 

11390 – Anonymous Case History
Decision: Suspension
Keyword(s): Arbitration; Failure to Notify CFP Board; Misappropriation; Breach of Contract; Bankruptcy; Misrepresentation; Forgery; Customer Complaints; Lawsuits Involving Financial Matters
Standard(s) Violated: Article 201; 607; Article 3(c); Article 3(a); 102; 606(b); Article 3(e)
Matter Type(s): Civil Court
Decision Date: 04/16/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) filed for Chapter 7 Bankruptcy; 2) was convicted of Operating a Motor Vehicle While Ability Impaired by Alcohol; and 3) was the subject of a series of arbitrations and customer complaints from 2001 through 2007.

12594 – Anonymous Case History
Decision: Suspension
Keyword(s): Professionalism; Churning; Misrepresentation; Professional Discipline; Bankruptcy; Suitability; Forgery; Employer Policy Violation; Customer Complaints; Fraud Related to Professional Activity; Unauthorized Transaction; Fitness; Disclosure to Clie
Standard(s) Violated: Article 2.1; 606(a); Article 3(a); 606(b); 201; 607; 406; 102
Matter Type(s): FINRA Arbitration
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) was the subject of at least five customer arbitrations alleging unsuitability, unauthorized trading, misrepresentation, churning, fraud and violations of both state and federal securities laws; 2) was alleged to have falsified customer account documents; 3) was permitted to resign from his firm due to unacceptable business practices; and 4) filed for Chapter 7 Bankruptcy.

13449 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professional Discipline; Professionalism; Lawsuits Involving Financial Matters; Suitability; Arbitration
Standard(s) Violated: Article 201; Article 3(a); 606(b)
Matter Type(s): FINRA Arbitration
Decision Date: 06/21/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards Standards of Professional Conduct when he: 1) recommended clients over-concentrate their assets in annuities; 2) failed to adequately supervise while serving as both a broker-dealer principal and compliance officer of a broker-dealer in twenty-two states with fifty brokers and five registered investment advisors; 3) violated the state securities act (“Act”) resulting in a Settlement Order (“Order”); and 4) was named in a National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority or “FINRA”) Arbitration.

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.

15094 – Anonymous Case History
Decision: Suspension
Keyword(s): Misuse of the Marks; Lawsuits Involving Financial Matters; Arbitration; Customer Complaints; Disclosure to Clients; Suitability; Diligence; Professionalism; Misrepresentation
Standard(s) Violated: Article Article 3(a); 607; 601; 201; 704; 606(b); 701; 102
Matter Type(s): FINRA Arbitration
Decision Date: 08/11/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he: 1) recommended variable annuities to elderly clients; and 2) omitted the registered trademark symbol when referring to CFP® on his letterhead, certification salutations and documents.

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.

16726 – Anonymous Case History
Decision: Private Censure
Keyword(s): Lawsuits Involving Financial Matters; Disclosure to CFP Board; Misrepresentation; Professional Discipline; Arbitration
Standard(s) Violated: Article Article 3(a); 607; Article 3(g)
Matter Type(s): FINRA Discipline; Client Dissatisfaction
Decision Date: 11/30/2009
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) Made exaggerated statements and improper projections about clients’ accounts; 2) Prepared and/or used documents that had not been approved by a registered principal of Respondent’s firm; 3) Failed to retain records showing which sales materials were disseminated to customers; and 4) Failed to disclose a 2003 civil suit and a 2003 National Association of Securities Dealers (“NASD”) arbitration on the Declaration Section of his Initial Application for CFP® Certification.

18761 – Anonymous Case History
Decision: Dismiss--w/Caution
Keyword(s): Lawsuits Involving Financial Matters; Professional Discipline; Arbitration
Matter Type(s): Other Professional Discipline
Decision Date: 04/25/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when: 1) a state securities division sanctioned Respondent’s firm (“Firm”) for fee- and records-related misconduct; and 2) husband and wife clients (“Clients”) filed an arbitration and a civil suit against him alleging misrepresentation and unsuitable investments.

19812 – Anonymous Case History
Decision: Private Censure
Keyword(s): Diligence; Settlement; Lawsuits Involving Financial Matters; Negligence; Misrepresentation; Breach of Contract; Fiduciary Duty
Standard(s) Violated: Article 701
Matter Type(s): Civil Court
Decision Date: 08/24/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when a state civil court found him liable for violation of a state Consumer Protection Act after the wife of a former client (“Client”) lost her claim for benefits due to an inaccurate answer on the Client’s life insurance application.

20420 – Anonymous Case History
Decision: Private Censure
Keyword(s): Suitability; Churning; Lawsuits Involving Financial Matters; Professional Discipline; Unauthorized Transaction; Diligence; Misrepresentation
Standard(s) Violated: Article Article 3(a); 701; 703; 201
Matter Type(s): Other Professional Discipline; Professionalism; FINRA Arbitration; Civil Court
Decision Date: 03/06/2008
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he executed numerous trades in the account of a client without her approval.

21409 – Anonymous Case History
Decision: Dismiss--w/Caution
Keyword(s): Disclosure to Clients; Lawsuits Involving Financial Matters; Record-Keeping; Misuse of the Marks
Matter Type(s): Civil Court
Decision Date: 03/27/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he was the subject of a civil suit by a client (“Claimant”) for recommendations he had made to Claimant regarding the purchase of a life insurance policy.

21787 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Fraud Related to Professional Activity; Diligence; Disclosure to Clients; Securities Laws Violation; Misrepresentation; Unauthorized Use of the Marks; Professional Discipline; Breach of Contract; Suitability; Commingling; Lawsuits Involving Financial Matters; C
Standard(s) Violated: Article 607; 102; 704; Article 3(a); 201; Article 3(g); 103(d); 606(b); 606(a); 601; 701
Matter Type(s): Client Dissatisfaction
Decision Date: 02/27/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he: 1) did not fully inform his client (“Client”) as to the nature of an investment he made for her and did not provide risk disclosure documents to her; 2) did not inform the Client about a civil suit he initiated against the company that offered the product; 3) did not research the company that offered the product before the Client invested in it; 4) commingled his investment funds with the Client’s; 5) used the CFP® marks while not certified; and 6) violated federal and state securities regulations.

21937 – Anonymous Case History
Decision: Suspension
Keyword(s): Diligence; Professional Discipline; Supervision; Securities Laws Violation; Fitness; Failure to Notify CFP Board
Standard(s) Violated: Article 606(b); 607; 701; 606(a); 201; Article 3(a)
Matter Type(s): SEC Discipline
Decision Date: 03/26/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to conduct adequate due diligence of investments that he recommended to clients; and 2) entered into a settlement agreement with the Securities and Exchange Commission (“SEC”) in which he agreed to a one-year bar from associating with any investment adviser.

22175 – Anonymous Case History
Decision: Dismiss--No Merit
Keyword(s): Bankruptcy; Professionalism
Matter Type(s): Civil Court
Decision Date: 11/11/2008
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when she was involved in Chapter 13 and Chapter 7 bankruptcies prior to submitting her Initial Certification Application.

22290 – Anonymous Case History
Decision: Private Censure
Keyword(s): Judgment Lien; Fitness; Settlement; Bankruptcy
Standard(s) Violated: Article 607; Article 3(a)
Matter Type(s): Civil Court
Decision Date: 08/10/2009
Summary: Whether an applicant for reinstatement of his CFP® certification violated CFP Board’s Standards of Professional Conduct when he filed for bankruptcy in 2004 and accrued various judgment liens.

22380 – Anonymous Case History
Decision: Denied Petition
Keyword(s): Bankruptcy; Fitness
Matter Type(s): Criminal Court; Civil Court
Decision Date: 08/10/2009
Summary: Whether a candidate for CFP® certification could be certified when she had filed for bankruptcy within five years prior to submitting her Initial Certification Application.

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.

22513 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Diligence; Failure to Respond to CFP Board; Fitness; Bankruptcy; Client's Best Interest; Disclosure to CFP Board; Commingling; Borrowing from Client; Fraud Related to Professional Activity
Standard(s) Violated: Article 606(b); 102; 409; Article 3(a); 607; 201; 704; 103(d)
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 did not respond to a Complaint issued to him by CFP Board.

22598 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fitness; Failure to Notify CFP Board; Settlement; Misdemeanor; DUI/DWI
Standard(s) Violated: Article Article 3(a); Article 3(c); Article 3(e); 607
Matter Type(s): Criminal Court
Decision Date: 08/10/2009
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he pleaded guilty to a Driving Under the Influence charge in 2008, and did not notify CFP Board within 10 days of his criminal conviction.

22720 – Anonymous Case History
Decision: Denied Petition
Keyword(s): Fitness; Bankruptcy
Matter Type(s): Civil Court
Decision Date: 08/10/2009
Summary: Whether a candidate for CFP® certification could be certified when he had filed for bankruptcy within five years prior to submitting his Initial Certification Application.

22725 – Anonymous Case History
Decision: Granted Petition
Keyword(s): Bankruptcy
Matter Type(s): Civil Court
Decision Date: 02/26/2009
Summary: Whether a candidate for CFP® certification should be certified when he had previously filed for bankruptcy.

22753 – Anonymous Case History
Decision: Denied Petition
Keyword(s): Bankruptcy; Fitness
Matter Type(s): Client Dissatisfaction; Civil Court
Decision Date: 08/10/2009
Summary: Whether a candidate for CFP® certification could be certified when he filed for bankruptcy within five years prior to submitting an Initial Certification Application.

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