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12637 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Suitability; Fitness; Misuse of the Marks; Settlement; Arbitration; Customer Complaints; Professionalism
Standard(s) Violated: Article 606(b); 601; 607; 4.2; 606(a); 201
Matter Type(s): FINRA Arbitration
Decision Date: 06/21/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) engaged in a pattern of recommending that clients invest their entire retirement savings in unsuitable variable annuities and sub-account allocations, as evidenced by four National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority, Inc. or “FINRA”) arbitrations; and 2) when she used “cfp” after her name on her Web site.

13221 – Anonymous Case History
Decision: Private Censure
Keyword(s): Arbitration; Competency; Disclosure to CFP Board; Customer Complaints
Standard(s) Violated: Article 612; Article 3(a)
Matter Type(s): FINRA Arbitration
Decision Date: 04/07/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he did not disclose his involvement in a National Association of Securities Dealers arbitration on his Certification Renewal Application.

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.

13677 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professionalism; Other Ethics; Arbitration; Professional Discipline
Standard(s) Violated: Article 102; 406; 606(b); 607; Article 3(a); 201; 606(a)
Matter Type(s): FINRA Arbitration
Decision Date: 10/17/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) sold the major asset of his investment advisory firm for his own benefit and to the detriment of his minority shareholders, who were also investment advisory clients; 2) failed to disclose on his state insurance license renewal application that he had been named in National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority or “FINRA”) arbitrations and customer complaints; and 3) engaged in an adulterous relationship with his client while both were married.

13679 – Anonymous Case History
Decision: Private Censure
Keyword(s): Arbitration
Standard(s) Violated: Article 606(b); Article 3(a); 607
Matter Type(s): FINRA Arbitration
Decision Date: 10/17/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to consider all of his clients’ financial concerns and, thus, failed to recognize the impropriety of clients of the financial advisory firm purchasing an interest in his financial advisory firm.

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.

15250 – Anonymous Case History
Decision: Dismiss--w/Caution
Keyword(s): Arbitration; Misrepresentation; Professional Discipline; Disclosure to CFP Board; Suitability; Employer Policy Violation
Matter Type(s): FINRA Arbitration
Decision Date: 04/04/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he was named in two customer complaints that resulted in a National Association of Securities Dealers arbitration.

15982 – Anonymous Case History
Decision: Private Censure
Keyword(s): Diligence; Disclosure to Clients; Fitness; Customer Complaints; Arbitration; Employer Policy Violation; Professionalism
Standard(s) Violated: Article 606(b); 201; 406; 606(a); 607; Article 3(a); 701; 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) failed to clarify his lack of involvement in recommending and endorsing a particular investment to his clients; and 2) executed transactions on a client’s behalf without first confirming that the proper written authorization was in place.

17262 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Diligence; Professionalism; Disclosure to CFP Board; Employer Policy Violation; Professional Discipline; Supervision; Arbitration; Customer Complaints
Standard(s) Violated: Article 406; 606(a); 606(b); Article 3(a); Article 3(d); 607; Article 3(e); 201
Matter Type(s): Client Dissatisfaction; FINRA Discipline; FINRA Arbitration
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) allowed a Financial Industry Regulatory Authority (“FINRA”) member firm (“Firm”), of which he was the Chief Compliance Officer, to participate in securities offerings during its suspension without satisfying the requirements of the suspension; 2) allowed a representative of the Firm (“Representative”) to act as a principal when the Representative had been suspended by the National Association of Securities Dealers (“NASD,” now known as FINRA) from acting in any principal capacity; 3) processed commissions from securities offerings through a non-member company; and 4) was subject to three FINRA arbitrations and one state securities division investigation.

17640 – Anonymous Case History
Decision: Private Censure
Keyword(s): Diligence; Arbitration; Professionalism
Standard(s) Violated: Article Article 3(a); 701; 201; 406
Matter Type(s): FINRA Arbitration
Decision Date: 10/10/2008
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he: 1) did not meet with a client (“Client”) regarding a discrepancy in the number of checks written from the Client’s Cash Management Account, which was later found to involve unlawful activity by the Client’s health care aide; and 2) did not bring the matter to his branch manager’s attention.

18767 – Anonymous Case History
Decision: Suspension
Keyword(s): Outside Business Activity; Misrepresentation; Professional Discipline; Commission/Compensation; Arbitration
Standard(s) Violated: Article 607; Article 3(a); 701; 406; Article 3(e); Article 3(d); 606(a); 606(b); 102; 201; 202; 405
Matter Type(s): FINRA Arbitration
Decision Date: 04/26/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he violated: 1) sections of the State Securities Act by selling unregistered securities; 2) the 2004 State Securities Board (“SSB”) Undertaking and 2005 SSB Order regarding supervision; 3) the 2004 SSB Undertaking and sections of the State Securities Act by failing to fully complete forms before obtaining client signatures; 4) sections of the State Securities Act by failing to disclose required information on his Form U4 and making material misrepresentations to the State Commissioner; 5) the 2004 SSB Undertaking and 2005 SSB Order by engaging in unsuitable transactions; and 6) National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority or “FINRA”) Conduct Rules by accepting a gift and/or gratuity in excess of $100 and charging clients both investment advisory fees and prohibited commissions.

19888 – Anonymous Case History
Decision: Private Censure
Keyword(s): Suitability; Arbitration; Professionalism
Standard(s) Violated: Article 606(b); 201; 607
Matter Type(s): FINRA Arbitration
Decision Date: 08/11/2008
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he invested all of the life savings of a client in variable annuities.

19915 – Anonymous Case History
Decision: Dismiss--No Merit
Keyword(s): Diligence; Arbitration; Misrepresentation
Matter Type(s): FINRA Arbitration
Decision Date: 11/11/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he did not deliver requested stock certificates to a client (“Client”) after the Client purchased shares of stock in a company.

20393 – Anonymous Case History
Decision: Private Censure
Keyword(s): Disclosure to CFP Board; Arbitration
Standard(s) Violated: Article Article 3(g)
Matter Type(s): FINRA Arbitration
Decision Date: 11/06/2008
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct by failing to disclose a National Association of Securities Dealers Arbitration on his Initial Certification Application.

21293 – Anonymous Case History
Decision: Dismiss--w/Caution
Keyword(s): Arbitration; Customer Complaints; Failure to Respond to CFP Board; Failure to Cooperate with Staff
Matter Type(s): FINRA Arbitration
Decision Date: 03/27/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he neither provided requested documents to CFP Board nor a written explanation of his attempts to retrieve them.

21403 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professionalism; Customer Complaints; Arbitration; Unauthorized Transaction; Professional Discipline; Securities Laws Violation; Fitness
Standard(s) Violated: Article Article 3(a); 701; 606(a); 607; 201; 606(b)
Matter Type(s): FINRA Arbitration
Decision Date: 04/14/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she executed trades in a trust account without the trustee’s authorization.

21702 – Anonymous Case History
Decision: Suspension
Keyword(s): Judgment Lien; Fraud-Other; Misrepresentation; Court Order Violation; Disclosure to CFP Board; Other Ethics; Professionalism
Standard(s) Violated: Article Article 3(a); 607; Article 3(f); 102; 606(b); 201; 602; 606(a)
Matter Type(s): Professionalism
Decision Date: 02/26/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he: 1) was found to have engaged in a fraudulent transfer of real property; 2) was sanctioned for intentional spoliation of data from his computers in violation of a court protective order; and 3) did not pay enrollment fees for a continuing education course he attended, and did not provide proof of payment upon CFP Board’s request.

21718 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Arbitration; Securities Laws Violation; Professional Discipline
Standard(s) Violated: Article 606(b); 701; 607; 201; Article 3(a); 406; 606(a)
Matter Type(s): FINRA Arbitration
Decision Date: 04/05/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) corrected a trading error in a client’s account by reimbursing the client from his own personal funds, rather than following firm policy with respect to resolving trading errors; and 2) traded a security in his personal securities account ahead of trading the same security in a client’s account.

21749 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Failure to Respond to CFP Board; Arbitration; Disclosure to CFP Board
Standard(s) Violated: Article Article 3(a); Article 3(f); 607
Matter Type(s): Civil Court; FINRA Arbitration
Decision Date: 03/20/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he did not report his involvement in a Financial Industry Regulatory Authority arbitration to CFP Board, and did not respond to CFP Board’s requests for information and Complaint.

22191 – Anonymous Case History
Decision: Dismiss--w/Caution
Keyword(s): Professionalism; Confidentiality; Arbitration; Outside Business Activity
Matter Type(s): FINRA Arbitration
Decision Date: 07/10/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he was involved in a 2008 Financial Industry Regulatory Authority Arbitration concerning an employment dispute with his former employer.

22317 – Anonymous Case History
Decision: Suspension
Keyword(s): Fitness; Settlement; Professional Discipline; Misdemeanor; Customer Complaints; Arbitration
Standard(s) Violated: Article Article 3(a); 606(a); 607
Matter Type(s): Other Professional Discipline; Client Dissatisfaction; FINRA Arbitration; Civil Court
Decision Date: 03/23/2010
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when: 1) multiple clients filed customer complaints and arbitrations against him; and 2) a state division of securities issued an order of intent to revoke his state securities license.

23335 – Anonymous Case History
Decision: Private Censure
Keyword(s): Unauthorized Transaction; Disclosure to Clients; Professionalism; Diligence; Breach of Contract; Arbitration
Standard(s) Violated: Article Article 3(a); 606(b); 201; 701; 607
Matter Type(s): FINRA Arbitration; Client Dissatisfaction
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he repeatedly purchased securities in a non-discretionary account without authorization from the client (“Client”).

24452 – Anonymous Case History
Decision: Suspension
Keyword(s): Breach of Contract; Lawsuits Involving Financial Matters; Professionalism; Fitness; Other Ethics; Bankruptcy
Standard(s) Violated: Article 6.5; 607; Article 3(a)
Matter Type(s): Professionalism
Decision Date: 08/22/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to satisfy his payment obligations for a least five CFP® professionals who provided instructor services for his consulting company (“Company”); 2) breached his contract with University A and B, resulting in outstanding debt obligations to University A and B; and 3) filed for Chapter 13 Bankruptcy.

25530 – Anonymous Case History
Decision: Private Censure
Keyword(s): Arbitration; Suitability; Disclosure to CFP Board
Standard(s) Violated: Article 607; 703; 201; 606(b); 6.3; 102; 202
Matter Type(s): FINRA Arbitration
Decision Date: 04/03/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) sold a client a variable annuity, which resulted in the concentration of the client’s assets in variable annuities and 10% early withdrawal penalties on the client’s monthly withdrawals; 2) held himself out as a financial planner providing comprehensive financial planning services but did not provide financial planning services to the client; and 3) failed to notify CFP Board of a change in his contact information within 45 days, in violation of Rule 6.3.

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