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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.

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.

21319 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Misrepresentation; Failure to Register; Failure to Respond to CFP Board; Professionalism
Standard(s) Violated: Article 101(b); 606(b); 612; Article 3(g); 607; 606(a); Article 3(f)
Matter Type(s): Other Professional Discipline
Decision Date: 11/07/2008
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he conducted unregistered financial planning seminars about insurance products without identifying himself as an insurance producer, offered inducements to purchase financial planning services and conducted business in an unregistered branch office.

21449 – Anonymous Case History
Decision: Denied Petition
Keyword(s): Professional Discipline; Disclosure to Clients
Matter Type(s): Other Professional Discipline; FINRA Arbitration
Decision Date: 04/04/2008
Summary: Whether a candidate for CFP® certification should be certified when he had been the subject of a hearing and discipline by the New York Stock Exchange.

22103 – Anonymous Case History
Decision: Private Censure
Keyword(s): Commission/Compensation; Supervision; Professional Discipline; Fitness; Employer Policy Violation
Standard(s) Violated: Article 406; Article 3(a); 607; 606(b); 201
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 he: 1) persistently failed to properly document customer transactions and was subsequently terminated by his firm and investigated by the Financial Industry Regulatory Authority, Inc. (“FINRA”, formerly known as the National Association of Securities Dealers, or “NASD”); and 2) continued to act as a compliance officer in some capacity, despite entering into a Letter of Understanding wherein he agreed to no longer act as a compliance officer.

22183 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Misuse of the Marks; Settlement; Professional Discipline; Securities Laws Violation; Misrepresentation
Standard(s) Violated: Article 102; 601; 606(b); 607; Article 3(a); 606(a)
Matter Type(s): Other Professional Discipline
Decision Date: 12/03/2009
Summary: Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he lied to his employer about his use of prohibited solicitation materials, resulting in a Letter of Caution from the National Association of Securities Dealers.

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.

22894 – Anonymous Case History
Decision: Granted Petition
Keyword(s): Professional Discipline; Fitness
Matter Type(s): Client Dissatisfaction; Other Professional Discipline; FINRA Arbitration
Decision Date: 08/10/2009
Summary: Whether a candidate for CFP® certification could be certified when she had been censured and subject to a two-week bar by the New York Stock Exchange more than 15 years prior to submitting an Initial Certification Application with CFP Board.

22986 – Anonymous Case History
Decision: Suspension
Keyword(s): Interim Suspension; Professional Discipline; Outside Business Activity; Misrepresentation; Professionalism; Disclosure to Clients; Employer Policy Violation; Fraud Related to Professional Activity; Suitability; Disclosure to CFP Board
Standard(s) Violated: Article 612; Article 3(e); 607; Article 3(a); 201; 606(a); 401(a); Article 3(d); 102; 606(b)
Matter Type(s): FINRA Discipline; Other Professional Discipline
Decision Date: 12/08/2010
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) engaged in outside business activities without obtaining written approval from her employer; 2) did not notify CFP Board of her suspension; 3) recommended that her clients invest in promissory notes issued by her son’s company; and 4) did not disclose risks and other material and relevant information regarding the promissory notes to her clients.

23068 – Anonymous Case History
Decision: Suspension
Keyword(s): Diligence; Commingling; Employer Policy Violation; Professional Discipline; Loaning to Client; Failure to Notify CFP Board
Standard(s) Violated: Article 606(a); 606(b); 607; Article 3(e); 201; 406; Article 3(d); 102; Article 3(a)
Matter Type(s): Other Professional Discipline
Decision Date: 03/26/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) made a loan to a client (“Client”) in violation of his employer’s written procedures and National Association of Securities Dealers (“NASD” now know as the Financial Industry Regulatory Authority or “FINRA”) Conduct Rules; 2) did not disclose to his employer (“Firm”) that he made the loan to the Client, in violation of Firm policy; 3) did not disclose to his firm that he executed a Power of Attorney granted by the Client; 4) exercised the Power of Attorney in connection with the sale of Respondent’s real property to the Client; 5) established a joint bank account with the Client; 6) was suspended and fined by the FINRA; and 7) did not disclose his FINRA suspension to CFP Board within 10 days.

23153 – Anonymous Case History
Decision: Granted Petition
Keyword(s): Revocation of a Financial Professional License; Professional Discipline; Fitness
Matter Type(s): Other Professional Discipline
Decision Date: 08/10/2009
Summary: Whether a candidate for CFP® certification could be certified when his securities license had previously been revoked by a state securities division.

23296 – Anonymous Case History
Decision: Granted Petition
Keyword(s): Professional Discipline; Fitness
Matter Type(s): Other Professional Discipline
Decision Date: 12/02/2009
Summary: Whether a candidate for CFP® certification could be certified when he had previously had his real estate license suspended by a state department of real estate.

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.

23714 – Anonymous Case History
Decision: Private Censure
Keyword(s): Advertising; Professional Discipline; Misrepresentation
Standard(s) Violated: Article 606(a); 606(b); 2.1; 6.5; 609; 201; Article 3(a); 4.3
Matter Type(s): Other Professional Discipline
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) prepared a financial review without holding a valid Certified Public Accountant (“CPA”) license, as required by state law; 2) communicated misleading information directly related to his professional qualifications and services when he advertised himself as a CPA despite not being licensed in the state in which he practiced; and 3) violated an agreement with the state requiring him to not represent himself as a public accountant and/or engage in the practice of accounting until he received a valid CPA license in the state.

23730 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Diligence; Fraud Related to Professional Activity; Fitness; Employer Policy Violation; Failure to Respond to CFP Board; Professional Discipline; Confidentiality
Standard(s) Violated: Article 201; Article 3(a); 607; 606(a); 102; 406; 606(b)
Matter Type(s): Other Professional Discipline
Decision Date: 04/29/2010
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.

23777 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professionalism; Suitability; Fitness; Customer Complaints; Professional Discipline
Standard(s) Violated: Article Article 3(a); 201; 606(b); 607; 606(a)
Matter Type(s): Other Professional Discipline
Decision Date: 08/11/2010
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when his recommendation resulted in 70% of the clients’ assets being invested in annuities.

24020 – Anonymous Case History
Decision: Private Censure
Keyword(s): Competency; Fitness; Professionalism; Professional Discipline; Diligence
Standard(s) Violated: Article 606(a); Article 3(a); 201; 302; 606(b); 609; 607
Matter Type(s): Other Professional Discipline
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she prepared a legal document without being authorized to practice law.

24078 – Anonymous Case History
Decision: Suspension
Keyword(s): Employer Policy Violation; Disclosure to CFP Board; Fraud Related to Professional Activity; Professional Discipline
Standard(s) Violated: Article Article 3(a); 606(b); 607; 102; 606(a)
Matter Type(s): Other Professional Discipline
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he did not report trust fees as income on his tax returns for the years 2002 to 2003 and was subsequently suspended from legal practice.

24148 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professional Discipline; Supervision; Failure to Notify CFP Board
Standard(s) Violated: Article 607; 606(a)
Matter Type(s): Other Professional Discipline
Decision Date: 04/01/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to adequately supervise a registered representative’s (“Representative”) conduct in a private placement offering managed by the Representative; 2) entered into a Financial Industry Regulatory Authority, Inc. (“FINRA,” f/k/a National Association of Securities Dealers or “NASD”) Letter of Acceptance, Waiver and Consent (“AWC”) wherein he consented to a 15-day suspension and a $10,000 fine; and 3) failed to disclose the 15-day suspension to CFP Board within 10 calendar days of receiving notification of the suspension.

24154 – Anonymous Case History
Decision: Dismiss--w/Caution
Keyword(s): Disclosure to Clients; Professional Discipline; Professionalism; Employer Policy Violation; Unauthorized Transaction; Fitness
Standard(s) Violated: Article 6.5; 5.1; 4.4; 4.3
Matter Type(s): Other Professional Discipline
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) executed a trade without the client’s written authorization; 2) emailed an updated Form ADV to a client; and 3) provided investment advice to an associate by email.

24272 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Diligence; Misrepresentation; Fitness; Record-Keeping; Professional Discipline; Revocation of Other Professional License; Settlement
Standard(s) Violated: Article 606(b); Article 3(e); 102; Article 3(d); 201; Article 3(a); 607; 701; 606(a)
Matter Type(s): Other Professional Discipline
Decision Date: 03/25/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he she improperly notarized a power of attorney and had her notary license revoked as a result.

24467 – Anonymous Case History
Decision: Private Censure
Keyword(s): Misrepresentation; Professional Discipline; Employer Policy Violation; Fraud Related to Professional Activity; Fitness; Forgery
Standard(s) Violated: Article Article 3(d); 406; Article 3(a); 102; 607; Article 3(e)
Matter Type(s): Other Professional Discipline
Decision Date: 08/11/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he recommended that the clients over-concentrate their assets in annuities.

24519 – Anonymous Case History
Decision: Suspension
Keyword(s): Fraud Related to Professional Activity; Employer Policy Violation; Professionalism; Forgery; Fitness; Misrepresentation; Professional Discipline
Standard(s) Violated: Article 201; 606(a); 607; Article 3(a); 406; 102; 606(b)
Matter Type(s): Other Professional Discipline
Decision Date: 08/11/2010
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he signed clients’ names to account documents, denied doing so during an internal review with his former employer, and failed to disclose this information to his current employer.

24809 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Failure to Notify CFP Board; Suitability; Diligence; Employer Policy Violation; Professional Discipline; Borrowing from Client; Fitness; Settlement; Revocation of a Financial Professional License; Misrepresentation
Standard(s) Violated: Article Article 3(d); 202; Article 3(e); 406; 606(a); 607; 606(b); 701; 201; 102; 401(a); Article 3(a)
Matter Type(s): Other Professional Discipline; FINRA Arbitration
Decision Date: 04/26/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Board’s Standards of Professional Conduct when he: 1) offered and sold unregistered securities to clients in violation of sections of the State Securities Act; 2) failed to inform clients that the foreign currency exchange (“FOREX”) trading program investments were securities that were not registered with any state or federal regulatory authority; 3) participated in private securities transactions for compensation without providing written notice to and receiving written authorization from the Firm, in violation of its written procedures and National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority, Inc. or “FINRA”) Conduct Rules 3040 and 2110; 4) borrowed $200,000 from a client in violation of the Firm’s written procedures and NASD Conduct Rules 2370 and 2110; 5) sold a product that the Firm did not have a selling agreement with, in violation of its written procedures; and 6) failed to provide requested information to FINRA in violation of NASD Rule 8210 and NASD Conduct Rule 2110.

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