Page 1 of 1 , 19 Items in Total
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.

16502 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Fraud-Other; Unauthorized Transaction; Disclosure to Clients; Professionalism; Misrepresentation; Employer Policy Violation; Professional Discipline; Securities Laws Violation; Diligence
Standard(s) Violated: Article 406; 606(a); Article 3(a); 102; 704; 606(b); 607; 201; 701
Matter Type(s): Civil Court
Decision Date: 11/10/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he sold promissory notes without receiving prior approval from his firm, resulting in: 1) a National Association of Securities Dealers (“NASD”) bar; 2) two terminations; and 3) two civil suits being filed against him.

23037 – Anonymous Case History
Decision: Private Censure
Keyword(s): Diligence; Customer Complaints; Fitness; Client's Best Interest; Disclosure to Clients; Fraud Related to Professional Activity; Lawsuits Involving Financial Matters; Professionalism; Misrepresentation
Standard(s) Violated: Article 409; 607; Article 3(a); 606(b); 102; 201; 606(a); 202
Matter Type(s): Client Dissatisfaction
Decision Date: 06/21/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to inform his financial planning client that he was renting her property below the market price and that he exercised discretionary authority over her online account without obtaining prior written authorization from the client and principal approval from Respondent’s firm.

23352 – Anonymous Case History
Decision: Suspension
Keyword(s): Customer Complaints; Client's Best Interest; Suitability; Fiduciary Duty
Standard(s) Violated: Article Article 3(a); 202; 201; 607; 606(b); Article 3(b); 703
Matter Type(s): Client Dissatisfaction
Decision Date: 12/28/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards”) when he failed to: 1) perform an investigation and analysis into the insurance needs of his clients prior to recommending that they purchase insurance policies; 2) perform a cash flow analysis regarding his client’s ability to pay the premiums for the insurance policies recommended by Respondent; and 3) present his insurance recommendations and ensure that the recommendations met his client’s expectations with respect to their ability to “premium offset” in five years.

24084 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Unauthorized Transaction; Fitness; Settlement; Professional Discipline; Employer Policy Violation; Customer Complaints
Standard(s) Violated: Article 607; Article 3(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 04/26/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he applied funds of a homeowner’s association (“Association”), which he had oversight and charge of, without proper association authorization, which led the State Department of Insurance to assess monetary penalties against Respondent and his firm to terminate his employment.

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.

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.

24453 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Misrepresentation; Customer Complaints; Suitability; Fitness
Standard(s) Violated: Article 606(b); Article 3(a); 607; 201
Matter Type(s): Client Dissatisfaction
Decision Date: 11/04/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he recommended that an elderly client with a low net worth and a moderate-aggressive risk tolerance engage in futures contracts trading.

24481 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Fitness; Lawsuits Involving Financial Matters; Customer Complaints; Suitability; Professionalism; Misrepresentation; Settlement
Standard(s) Violated: Article 102; 606(b); 201; 607; Article 3(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 10/17/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he recommended that his unaccredited client with limited assets invest over half her assets in an illiquid investment that required investor accreditation.

24675 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Employer Policy Violation; Fitness; Customer Complaints; Suitability; Settlement
Standard(s) Violated: Article 606(b); 607; 201; Article 3(a); 406
Matter Type(s): Client Dissatisfaction
Decision Date: 04/04/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he recommended that an elderly client with a low net worth and a moderate-aggressive risk tolerance engage in futures contracts trading.

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.

24933 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Disclosure to Clients; Fitness; Customer Complaints; Unauthorized Transaction; Professionalism; Diligence
Standard(s) Violated: Article Article 3(a); 4.4; 6.5; 2.2(b)
Matter Type(s): Client Dissatisfaction
Decision Date: 06/21/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) made unauthorized trades by liquidating a deceased client’s trust account causing the trust to incur commissions; 2) was unaware that the bank trustee could have contacted the broker-dealer directly to avoid transaction costs; and 3) agreed to accept $200,000 as a beneficiary of the client’s trust account, while maintaining his role advisor to the trust.

25306 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professional Discipline; Failure to Notify CFP Board; Settlement; Borrowing from Client
Standard(s) Violated: Article Article 3(d); Article 3(a); Article 3(e); 3.6; 6.5
Matter Type(s): FINRA Discipline
Decision Date: 04/13/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) borrowed $8,000 from his clients; 2) did not inform his Firm of the loan and was allowed to resign as a result; 3) violated National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority or “FINRA”) Conduct Rules, resulting in a suspension and fine; and 4) failed to notify CFP Board of the suspension.

25346 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Failure to Respond to CFP Board; Employer Policy Violation; Unauthorized Transaction; Fitness
Standard(s) Violated: Article 606(b); 201; Article 3(a); 607; 406
Matter Type(s): Client Dissatisfaction
Decision Date: 04/25/2011
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.

25657 – Anonymous Case History
Decision: Suspension
Keyword(s): Settlement; Bankruptcy
Standard(s) Violated: Article Article 3(a)
Matter Type(s): Civil Court
Decision Date: 04/05/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards“) when he filed for Chapter 7 Bankruptcy protection in 2009.

25860 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Bankruptcy; Judgment Lien; Settlement
Standard(s) Violated: Article Article 3(a)
Matter Type(s): Civil Court
Decision Date: 04/05/2011
Summary: Whether a registrant (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he filed for bankruptcy in 2010.

26284 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to CFP Board; Professionalism; Professional Discipline; Unauthorized Transaction; Suitability; Employer Policy Violation; Diligence
Standard(s) Violated: Article 406; Article 3(d); 606(a); Article 3(g); Article 3(a); 703; 201; 701; Article 3(e); 607; 606(b)
Matter Type(s): FINRA Discipline
Decision Date: 10/17/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to execute trade orders and executed an unauthorized transaction in a client’s account; 2) exercised discretion in a client’s account without prior written authorization from the client to exercise discretion in her account; and 3) violated NASD Conduct Rules 2110 and 2510(b) and IM-2310-2, which resulted in a three-month suspension from FINRA in any capacity.

26920 – Anonymous Case History
Decision: Granted Petition
Keyword(s): Employer Policy Violation; Unauthorized Transaction
Matter Type(s): Other Professional Discipline
Decision Date: 12/01/2011
Summary: Whether a candidate for CFP® certification ("Respondent") could be certified when he consented to the findings that he made 100 unauthorized trades in 13 customer accounts in violation of state law and agreed to be subjected to heightened supervision for two years.

Page 1 of 1 , 19 Items in Total