Page 1 of 1 , 14 Items in Total
31010 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Diligence; Suitability; Fiduciary Duty
Standard(s) Violated: Article 1.4; 4.5
Matter Type(s): Client Dissatisfaction
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct by recommending that a client surrender of an annuity contract when Respondent did not properly estimate the cost basis of the annuity and incorrectly advised her client about the tax consequences of withdrawing funds from the annuity.


16726 – Anonymous Case History
Decision: Private Censure
Keyword(s): Lawsuits Involving Financial Matters; Disclosure to CFP Board; Misrepresentation; Professional Discipline; Arbitration
Standard(s) Violated: Article Article 3(a); 607; Article 3(g)
Matter Type(s): FINRA Discipline; Client Dissatisfaction
Decision Date: 11/30/2009
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) Made exaggerated statements and improper projections about clients’ accounts; 2) Prepared and/or used documents that had not been approved by a registered principal of Respondent’s firm; 3) Failed to retain records showing which sales materials were disseminated to customers; and 4) Failed to disclose a 2003 civil suit and a 2003 National Association of Securities Dealers (“NASD”) arbitration on the Declaration Section of his Initial Application for CFP® Certification.

16836 – Anonymous Case History
Decision: Private Censure
Keyword(s): Diligence; Record-Keeping; Client Neglect; Suitability; Arbitration
Standard(s) Violated: Article 701; 201; Article 3(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 04/07/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he: 1) implemented an aggressive investment strategy for an elderly client (“Client”); 2) did not inform the Client that she had unrealistic investment expectations; 3) did not review the Client’s accounts after implementing the investment; and 4) did not respond to the Client’s calls.

17262 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Diligence; Professionalism; Disclosure to CFP Board; Employer Policy Violation; Professional Discipline; Supervision; Arbitration; Customer Complaints
Standard(s) Violated: Article 406; 606(a); 606(b); Article 3(a); Article 3(d); 607; Article 3(e); 201
Matter Type(s): Client Dissatisfaction; FINRA Discipline; FINRA Arbitration
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) allowed a Financial Industry Regulatory Authority (“FINRA”) member firm (“Firm”), of which he was the Chief Compliance Officer, to participate in securities offerings during its suspension without satisfying the requirements of the suspension; 2) allowed a representative of the Firm (“Representative”) to act as a principal when the Representative had been suspended by the National Association of Securities Dealers (“NASD,” now known as FINRA) from acting in any principal capacity; 3) processed commissions from securities offerings through a non-member company; and 4) was subject to three FINRA arbitrations and one state securities division investigation.

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.

21894 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fitness; Outside Business Activity; Employer Policy Violation; Unauthorized Transaction; Arbitration
Standard(s) Violated: Article Article 3(a); 406; 606(a); 606(b); 607
Matter Type(s): Client Dissatisfaction
Decision Date: 07/09/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when his employer (“Broker Dealer”) found that he had violated its policies by signing documents for a client without written authorization from the Broker Dealer and by not reporting outside activities to the Broker Dealer.

22243 – Anonymous Case History
Decision: Dismiss--w/Caution
Keyword(s): Other Ethics
Matter Type(s): Client Dissatisfaction
Decision Date: 03/27/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he did not follow the instructions of his client (“Grievant”) to liquidate all of Grievant’s investments.

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.

22437 – Anonymous Case History
Decision: Private Censure
Keyword(s): Other Ethics; Settlement
Standard(s) Violated: Article 607; 602; Article 3(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 02/26/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he did not pay another CFP® certificant for services rendered.

23335 – Anonymous Case History
Decision: Private Censure
Keyword(s): Unauthorized Transaction; Disclosure to Clients; Professionalism; Diligence; Breach of Contract; Arbitration
Standard(s) Violated: Article Article 3(a); 606(b); 201; 701; 607
Matter Type(s): FINRA Arbitration; Client Dissatisfaction
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he repeatedly purchased securities in a non-discretionary account without authorization from the client (“Client”).

23337 – Anonymous Case History
Decision: Suspension
Keyword(s): Other Ethics; Fitness; Misrepresentation
Standard(s) Violated: Article 607; 102; 101(b); Article 3(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 01/06/2010
Summary: Whether a CFP® certificant (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he used copyrighted materials without permission or attribution.

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.

27406 – Anonymous Case History
Decision: Suspension
Keyword(s): Suitability; Misrepresentation; Client's Best Interest; Fiduciary Duty
Standard(s) Violated: Article Article 3(a); 4.3; 4.4; 4.5; 1.4; 2.1; Article 3(b); 6.5
Matter Type(s): Client Dissatisfaction
Decision Date: 09/10/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) relied on a non-guaranteed 12% gross rate of return in a Variable Universal Life (“VUL”) Insurance policy illustration to determine how long the product would remain in force; 2) recommended that his client purchase a VUL with a limited no lapse period when the client’s goal was life insurance paid up for life; and 3) told a client that a VUL would almost triple her money.

29347 – Anonymous Case History
Decision: Suspension
Keyword(s): Fraud Related to Professional Activity; Securities Laws Violation; Professional Discipline; Fiduciary Duty; Customer Complaints
Standard(s) Violated: Article 4.1; 2.2(a); 1.4; 4.3; Article 3(b); Article 3(a); 5.1; 4.4; 2.1; 2.2(e)
Matter Type(s): Client Dissatisfaction
Decision Date: 04/26/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he directed his clients to sign, but not date, numerous incomplete and blank forms, including account registration forms, transfer forms, and annuity application forms, which did not include written disclosure of information such as fees, sales charges, or surrender charges.

Page 1 of 1 , 14 Items in Total