Page 1 of 1 , 15 Items in Total
23348 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Fiduciary Duty; Failure to Notify CFP Board; Fraud Related to Professional Activity; Misappropriation; Failure to Respond to CFP Board; Fitness; Professional Discipline; Professionalism; Interim Suspension; Forgery; Securities Laws Violation
Standard(s) Violated: Article 606(a); 102; 401(a); 607; Article 3(a); Article 3(e); 103(e); 201; 606(b)
Matter Type(s): SEC Discipline
Decision Date: 07/23/2010
Summary: Whether a CFP ® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she did not respond to a Complaint issued to her by CFP Board.

23408 – Anonymous Case History
Decision: Suspension
Keyword(s): Fraud Related to Professional Activity; Failure to Notify CFP Board; Employer Policy Violation; Professional Discipline; Continuing Education Violation; Fitness; Diligence
Standard(s) Violated: Article Article 3(e); Article 3(d); Article 3(a); 406; 606(a); 606(b); 607; 201; 102
Matter Type(s): FINRA Discipline
Decision Date: 04/29/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he allowed a trainee to complete portions of his required CFP Board continuing education credits.

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.

26476 – Anonymous Case History
Decision: Suspension
Keyword(s): Arbitration; Suitability; Client's Best Interest; Fiduciary Duty
Standard(s) Violated: Article 6.5; 4.4; 202; 1.4; 4.5; 606(b); 201; 102; 607; 1.3; 703
Matter Type(s): FINRA Arbitration
Decision Date: 05/08/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he concentrated clients’ assets in private placements.

26933 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professional Discipline; Continuing Education Violation
Standard(s) Violated: Article 607; 606(a); 606(b); 102
Matter Type(s): FINRA Discipline
Decision Date: 03/08/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he received a Financial Industry Regulatory Authority (“FINRA” previously known as National Association of Securities Dealers “NASD”) suspension and $5,000 fine for using an answer key to complete a Long-Term Care (“LTC”) Continuing Education (“CE”) examination.

28190 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professional Discipline; Continuing Education Violation; Disclosure to CFP Board
Standard(s) Violated: Article 102; 606(a); 201; 606(b); 607
Matter Type(s): FINRA Discipline
Decision Date: 03/29/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) allowed an individual to sign roster sheets indicating that he had attended insurance CE class sessions taught by Respondent, when the individual had not; and 2) provided the same individual with State Insurance Department course completion certificates for courses the individual had not completed.

31119 – Anonymous Case History
Decision: Suspension
Keyword(s): Fraud Related to Professional Activity; Continuing Education Violation; Misrepresentation
Standard(s) Violated: Article 2.1; 6.2; Article 3(g); 6.5
Matter Type(s): Case Developed By Staff
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he falsely self-reported to CFP Board that he had completed more than 30 Continuing Education (“CE”) courses providing approximately 80 hours of credits during three CE reporting. 


29246 – Anonymous Case History
Decision: Suspension
Keyword(s): Fiduciary Duty; Misrepresentation; Commission/Compensation; Conflict of Interest; Professional Discipline; Suitability; Securities Laws Violation
Standard(s) Violated: Article 4.5; 2.1; 2.2(a); 2.2(b); 4.3; 1.4; Article 3(d)
Matter Type(s): Other Professional Discipline
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct by making material misstatements and omissions to their clients while recommending that the clients invest in what was found to be a Ponzi-like investment scheme.


30850 – Anonymous Case History
Decision: Suspension
Keyword(s): Failure-to-Report; Client's Best Interest; Fiduciary Duty; Misrepresentation; Suitability
Standard(s) Violated: Article Article 3(e); Article 3(d); Article 3(a); 4.5; 4.4; 4.3; 2.1; 1.4
Matter Type(s): FINRA Arbitration; Failure to Disclose to CFP Board; FINRA Discipline
Decision Date: 06/01/2018
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he (1) made an unsuitable investment recommendation to a client; (2) misrepresented the values of annuities being recommended to that client; (3) placed his interest above his client’s interest by making an unsuitable recommendation that resulted in more than $25,000 in commission fees for the Respondent; and (4) failed to report a subsequent suspension by the Financial Industry Regulatory Authority (“FINRA”) to CFP Board within 30 days.


30210 – Anonymous Case History
Decision: Suspension
Keyword(s): Professionalism; Fiduciary Duty; Client's Best Interest; Professional Discipline; Securities Laws Violation; Misrepresentation
Standard(s) Violated: Article Article 3(d); Article 3(a); 4.4; 4.3; 2.1; 1.4
Matter Type(s): FINRA Discipline; FINRA Regulatory Action; Regulatory Action; Professionalism; Professional Organization Disciplinary Action; Other Professional Discipline
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) invested client resources into two hedge funds managed by the Respondent, when the sole investment of the funds was an Energy company with only one illiquid asset; (2) misrepresented the assets held by the hedge funds to investors; and (3) oversaw improper valuations of the hedge funds’ assets that were in violation of rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). 

30434 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Securities Laws Violation; Professional Discipline; Misrepresentation; Fiduciary Duty; Suitability
Standard(s) Violated: Article Article 3(d); Article 3(a); 4.3; 2.1; 1.4
Matter Type(s): Customer Complaint; Other Professional Discipline
Decision Date: 07/01/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to act with the duty of care of a fiduciary when he charged clients an unreasonable investment advisory fee in violation of State law; and 2) failed to disclose the risks involved with Real Estate Investment Trusts (“REIT”) and non-traded REITs in his Form ADV Part 2 in violation of State law.


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.

29005 – Anonymous Case History
Decision: Suspension
Keyword(s): Employer Policy Violation; Fiduciary Duty; Suitability; Disclosure to Clients
Standard(s) Violated: Article 4.6; 102; 1.4; 201; 5.1; 406; 606(b); 4.1; 4.4; 401(a); 606(a); 6.5; 2.2(a); 4.3
Matter Type(s): Other Professional Discipline
Decision Date: 11/20/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she sold “C” shares to her clients not because they were suitable, but as a method of ensuring that she was paid for her advisory services, and failed to: 1) enter into written advisory agreements with her “C” share advisory clients; 2) provide written disclosures required by Part 2 of Form ADV to her “C” share advisory clients; and 3) provide a complete description of the share class options and fees of mutual funds to her “C” share advisory clients and failed to: 1) ensure that salespersons were making suitable “C” share investment recommendations; 2) enforce the RIA Manual requirement of a written advisory agreement for clients using “C” shares as an advisory fee; and 3) enforce the requirement of delivery of the Disclosure Document. Respondent also failed to reasonably supervise her salespersons by failing to ensure that salespersons were making suitable “C” share investment recommendations. Respondent also failed to report her suspension by State from acting in any principal or supervisory capacity for twelve months to CFP Board within 30 calendar days, in violation of Article 13.2 of the Disciplinary Rules and Procedures (“Disciplinary Rules”).

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.

29693 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to Clients; Fraud Related to Professional Activity; Fiduciary Duty
Standard(s) Violated: Article 2.1; 4.4; 2.2(b); 5.1; 1.4; 4.3
Matter Type(s): Regulatory Action; Termination
Decision Date: 11/25/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to make disclosures regarding his ownership of an investment advisory firm.

Page 1 of 1 , 15 Items in Total