Page 1 of 1 , 15 Items in Total
16145 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Fraud Related to Professional Activity; Customer Complaints; Suitability; Settlement; Diligence; Record-Keeping; Fitness; Disclosure to Clients; Client's Best Interest; Lawsuits Involving Financial Matters; Negligence; Competency
Standard(s) Violated: Article 606(a); 201; 401(a); Article 3(a); 405; 402; 606(b); 607; 102
Matter Type(s): Client Dissatisfaction
Decision Date: 03/26/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) treated a client’s payments as nontaxable gifts rather than taxable income; 2) did not disclose the income on his 2000 and 2001 state and federal tax returns; 3) did not disclose to a client the potential for a conflict of interest in serving as the appointed trustee of a trust and as an investment adviser for the trust; 4) double and triple charged clients for services; and 5) failed to disclose commissions.

22961 – Anonymous Case History
Decision: Suspension
Keyword(s): Misrepresentation; Fitness; Forgery
Standard(s) Violated: Article 606(b); 406; 607; 201; Article 3(a); 102
Matter Type(s): Professionalism; Client Dissatisfaction
Decision Date: 03/23/2010
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he signed his clients’ initials to account-related documents and represented to his employer that the initials were made by the clients.

22986 – Anonymous Case History
Decision: Suspension
Keyword(s): Interim Suspension; Professional Discipline; Outside Business Activity; Misrepresentation; Professionalism; Disclosure to Clients; Employer Policy Violation; Fraud Related to Professional Activity; Suitability; Disclosure to CFP Board
Standard(s) Violated: Article 612; Article 3(e); 607; Article 3(a); 201; 606(a); 401(a); Article 3(d); 102; 606(b)
Matter Type(s): FINRA Discipline; Other Professional Discipline
Decision Date: 12/08/2010
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) engaged in outside business activities without obtaining written approval from her employer; 2) did not notify CFP Board of her suspension; 3) recommended that her clients invest in promissory notes issued by her son’s company; and 4) did not disclose risks and other material and relevant information regarding the promissory notes to her clients.

23068 – Anonymous Case History
Decision: Suspension
Keyword(s): Diligence; Commingling; Employer Policy Violation; Professional Discipline; Loaning to Client; Failure to Notify CFP Board
Standard(s) Violated: Article 606(a); 606(b); 607; Article 3(e); 201; 406; Article 3(d); 102; Article 3(a)
Matter Type(s): Other Professional Discipline
Decision Date: 03/26/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) made a loan to a client (“Client”) in violation of his employer’s written procedures and National Association of Securities Dealers (“NASD” now know as the Financial Industry Regulatory Authority or “FINRA”) Conduct Rules; 2) did not disclose to his employer (“Firm”) that he made the loan to the Client, in violation of Firm policy; 3) did not disclose to his firm that he executed a Power of Attorney granted by the Client; 4) exercised the Power of Attorney in connection with the sale of Respondent’s real property to the Client; 5) established a joint bank account with the Client; 6) was suspended and fined by the FINRA; and 7) did not disclose his FINRA suspension to CFP Board within 10 days.

23323 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Diligence; Outside Business Activity; Failure to Notify CFP Board; Fitness; Professional Discipline; Commingling; Fraud Related to Professional Activity; Employer Policy Violation
Standard(s) Violated: Article 606(b); 103(d); 406; 606(a); 607; Article 3(d); 102; Article 3(e); Article 3(a); 201
Matter Type(s): Other Professional Discipline
Decision Date: 04/19/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he engaged in unauthorized outside business activities resulting in a fine and a suspension of his securities, insurance, and investment advisor licenses for 30 days.

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.

24078 – Anonymous Case History
Decision: Suspension
Keyword(s): Employer Policy Violation; Disclosure to CFP Board; Fraud Related to Professional Activity; Professional Discipline
Standard(s) Violated: Article Article 3(a); 606(b); 607; 102; 606(a)
Matter Type(s): Other Professional Discipline
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he did not report trust fees as income on his tax returns for the years 2002 to 2003 and was subsequently suspended from legal practice.

24519 – Anonymous Case History
Decision: Suspension
Keyword(s): Fraud Related to Professional Activity; Employer Policy Violation; Professionalism; Forgery; Fitness; Misrepresentation; Professional Discipline
Standard(s) Violated: Article 201; 606(a); 607; Article 3(a); 406; 102; 606(b)
Matter Type(s): Other Professional Discipline
Decision Date: 08/11/2010
Summary: Whether a candidate for CFP® certification (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he signed clients’ names to account documents, denied doing so during an internal review with his former employer, and failed to disclose this information to his current employer.

24651 – Anonymous Case History
Decision: Suspension
Keyword(s): Employer Policy Violation; Forgery; Professional Discipline; Fraud Related to Professional Activity; Misrepresentation; Professionalism; Diligence
Standard(s) Violated: Article 201; 406; 606(b); 102; 607; 606(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 08/06/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he affixed multiple client signatures on documents and purchased financial plans for two clients with his own funds in violation of firm policy, National Association of Securities Dealers (“NASD,” now Financial Industry Regulatory Authority or “FINRA”) Conduct Rule 2110, and a state insurance code provision.

27321 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Suitability
Standard(s) Violated: Article 201; Article 3(e); Article 3(a); 606(a); 701; 102; 401(a); 607; Article 3(d); 606(b)
Matter Type(s): Other Professional Discipline
Decision Date: 07/03/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) failed to disclose that he was selling unregistered securities, in violation of State law; 2) failed to disclose that he would be compensated for the sale of securities, in violation of State law; 3) sold unregistered, nonexempt securities to 13 clients, in violation of State law; 4) sold an unsuitable promissory note to his client; and 5) failed to adhere to the principles of good business practice when he failed to execute his client's sell orders in a timely manner.

27322 – Anonymous Case History
Decision: Suspension
Keyword(s): Forgery; Failure to Notify CFP Board; Employer Policy Violation
Standard(s) Violated: Article 102; 607; 606(a); 201; Article 3(g); 606(b); Article 3(a); 612
Matter Type(s): Other Professional Discipline
Decision Date: 08/28/2012
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conductwhen he: 1) signed a client’s name on account documents without proper authorization; 2) was terminated by his broker-dealer; 3) was issued a Letter of Caution by NASD; and 4) failed to disclose that he was a respondent in an National Association of Securities Dealers (“NASD”) arbitration on two CFP® Certification Renewal Applications (“Renewal Applications”).

28815 – Anonymous Case History
Decision: Suspension
Keyword(s): Suitability; Client's Best Interest; Arbitration; Professional Discipline; Misrepresentation; Professionalism
Standard(s) Violated: Article 703; 202; 704; 606(a); 607; 201; 606(b); 6.5; 6.2
Matter Type(s): Other Professional Discipline; Other Arbitration
Decision Date: 04/10/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she 1) recommended a client invest 75% of her IRA funds in a risky, illiquid alternative investment; 2) recommended and facilitated the sale of interests in six unregistered, real estate investment contracts to 55 of her clients; 3) facilitated the sale of investments without reasonable grounds to believe that the recommendation was suitable for her customers; and 4) failed to disclose a government investigation and a client-related civil suit on her 2011 Renewal Application.

28855 – Anonymous Case History
Decision: Suspension
Keyword(s): Forgery; Professionalism; Professional Discipline
Standard(s) Violated: Article 6.5; 201; 606(b); 607; 5.1; 4.3; 4.6; 102; 4.4; 406
Matter Type(s): Other Professional Discipline; FINRA Discipline
Decision Date: 11/20/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she 1) altered client documents, which violated her firm’s policies and Financial Industry Regulatory Authority, Inc.’s (“FINRA”) Rule 2010 and 2) created consolidated customer statements which were then provided to certain clients without firm pre-approval.

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”).

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