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28523 – Anonymous Case History
Decision: Private Censure
Keyword(s): Negligence; Fraud Related to Professional Activity; Employer Policy Violation; Supervision
Standard(s) Violated: Article 4.4; 4.6; 5.1; 6.5; 3.2
Matter Type(s): Other Professional Discipline
Decision Date: 05/11/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) sent unencrypted email correspondence containing confidential client information; 2) placed four trades and facilitated two wire transfers in a client’s account without discretion; and 3) directed his assistant to aid in the execution of four trades and two wire transfers in a client’s account without discretion.

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.

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