Page 1 of 1 , 7 Items in Total
19075 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Fiduciary Duty; Professionalism; Commission/Compensation; Disclosure to Clients; Commingling; Suitability; Diligence; Client's Best Interest; Fitness
Standard(s) Violated: Article 402; 610; 607; 703; 103(e); 702(a); Article 3(a); 201; 405; 701; 103(d); 202
Matter Type(s): Client Dissatisfaction; Professionalism; Civil Court
Decision Date: 08/13/2009
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards”) when he performed financial planning services for a client’s (“Client”) father (“Client’s Father”) without providing to the Client’s Father a written financial planning agreement and written disclosures and when he received the Client’s Father’s funds through a bank account controlled by Respondent.

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.

22866 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to Clients; Conflict of Interest; Client's Best Interest; Diligence; Suitability; Misrepresentation
Standard(s) Violated: Article 102; 607; 202; 606(b); 201; 701; 703; Article 3(a)
Matter Type(s): FINRA Arbitration
Decision Date: 12/28/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to disclose in the financial planning agreement that his employer had a material conflict of interest because it maintained “preferred supplier” relationships in which it received financial bonuses for selling the “preferred suppliers’” products that were in excess of the financial compensation it received for selling other products; 2) failed to provide the client with sufficient alternatives to his investment recommendations; 3) implemented his investment recommendations prior to presenting the client with the initial financial plan; and 4) placed a majority of the client’s assets in deferred annuities, which did not provide a regular income stream to meet the client’s projected expenses and did not meet their goal of minimizing estate taxes.

25200 – Anonymous Case History
Decision: Granted Petition
Keyword(s): Commission/Compensation; Misrepresentation; Conflict of Interest; Loaning to Client; Disclosure to Clients; Securities Laws Violation; Competency; Commingling; Fiduciary Duty; Diligence
Standard(s) Violated: Article 402; 301; 606(b); Article 3(a); 607; 102; 606(a); 103(d); 302; 701; 403
Matter Type(s): CFP Board
Decision Date: 03/25/2011
Summary: Whether an applicant for reinstatement of his CFP® certification (“Respondent”) demonstrated rehabilitation by clear and convincing evidence that he complied with all disciplinary orders and provisions of the Disciplinary Rules and Procedures and is, once again, fit to use the CFP®, CERTIFIED FINANCIAL PLANNER™, and certification marks.

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.

27735 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Suitability; Fraud Related to Professional Activity; Professionalism; Disclosure to Clients; Client's Best Interest; Customer Complaints
Standard(s) Violated: Article 202; 606(b); 201; 703; 607
Matter Type(s): Client Dissatisfaction
Decision Date: 05/14/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) recommended that a client, a risk-adverse retiree, invest $100,000 into The Fund, an investment that Respondent described as a partnership, but which was in actuality a hedge fund; 2) failed to disclose the conflict of interest that existed as a result of Respondent’s role as Advisor for The Fund; 3) recommended The Fund to Grievant although Respondent when the client may not have met the requirements to be an accredited investor; and 4) denied any remunerative connection to The Fund, despite her advisory role.

28738 – Anonymous Case History
Decision: Suspension
Keyword(s): Fraud Related to Professional Activity; Disclosure to Clients; Diligence; Suitability; Client's Best Interest; Fitness
Standard(s) Violated: Article 202; 102; 703; 701; 401(b); 6.5; 406; 607; 702(a); 201
Matter Type(s): FINRA Arbitration
Decision Date: 06/09/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he 1) failed to inform his clients of the taxes, penalties and interest associated with a Net Unrealized Appreciation (“NUA”) strategy; 2) failed to diligently follow up with the clients regarding the NUA strategy; 3) offered the Clients free advisory services, a refund of advisory/financial planning fees already paid and compensation for the early withdrawal penalty; and 4) did not provide documents requested by CFP Board.

Page 1 of 1 , 7 Items in Total