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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.

23966 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professional Discipline; Professionalism; Outside Business Activity; Disclosure to Clients
Standard(s) Violated: Article 607; 409; 606(a); 606(b); Article 3(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) engaged in outside business activity without providing prompt written notice to his firm; and 2) entered into a Financial Industry Regulatory Authority, Inc. (“FINRA”) Letter of Acceptance, Waiver and Consent (“AWC”) wherein he consented to a 10-day suspension from association with any FINRA member and a $5,000 fine.

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