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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.

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.

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.

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