Page 1 of 1 , 12 Items in Total
30450 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Books and Records; Conflict of Interest; Disclosure to Clients; Client's Best Interest
Standard(s) Violated: Article Article 3(d); 4.4; 4.3; 2.2(b); 1.4; Article 3(a)
Matter Type(s): Regulatory Action; CFP Board
Decision Date: 10/02/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to: (a) seek best execution for clients when investing them in share classes that charged 12b-1 fees despite the availability of corresponding share classes without the fees; (b) disclose in his firm’s Forms ADV and advisory agreements the conflicts of interest that existed regarding his recommendations to clients of mutual funds that contained 12b-1 fees; and (c) perform required annual compliance reviews.


24933 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Disclosure to Clients; Fitness; Customer Complaints; Unauthorized Transaction; Professionalism; Diligence
Standard(s) Violated: Article Article 3(a); 4.4; 6.5; 2.2(b)
Matter Type(s): Client Dissatisfaction
Decision Date: 06/21/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) made unauthorized trades by liquidating a deceased client’s trust account causing the trust to incur commissions; 2) was unaware that the bank trustee could have contacted the broker-dealer directly to avoid transaction costs; and 3) agreed to accept $200,000 as a beneficiary of the client’s trust account, while maintaining his role advisor to the trust.

25199 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Professional Discipline; Failure to Respond to CFP Board; Failure to Repay Loan to Firm; Failure to Notify CFP Board; Judgment Lien; Professionalism
Standard(s) Violated: Article 6.4; Article 3(e); 606(b); 6.5; Article 3(d); Article 3(f); 607; Article 3(a)
Matter Type(s): FINRA Arbitration
Decision Date: 07/22/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he did not respond to a Complaint issued to him by CFP Board.

25939 – Anonymous Case History
Decision: Private Censure
Keyword(s): Outside Business Activity; Professionalism; Professional Discipline
Standard(s) Violated: Article 6.4; Article 3(d); 607; 606(b); 406; 606(a); 407(a); Article 3(a)
Matter Type(s): FINRA Discipline
Decision Date: 10/20/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to disclose outside business activities to his employer.

26289 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Outside Business Activity; Professionalism; Disclosure to CFP Board; Employer Policy Violation
Standard(s) Violated: Article 4.4; Article 3(a); 6.4; 6.5; 5.1
Matter Type(s): FINRA Discipline
Decision Date: 11/10/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) engaged in outside business activities without providing prompt written notice to her employer of her activities, in violation of firm policy, National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority or “FINRA”) Rule 3030 and 2110 and FINRA Rules 3030 and 2010; and 2) failed to notify CFP Board of her FINRA suspension.

27222 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Failure to Respond to CFP Board; Bankruptcy; Professional Discipline
Standard(s) Violated: Article 6.5; 6.1; 607; Article 3(a); 6.4
Matter Type(s): Civil Court; Other Professional Discipline
Decision Date: 07/20/2012
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) incurred a 2006 IRS Tax Lien; 2) failed to complete required CE, resulting in a 2004 Insurance License Suspension; 3) filed for Chapter 13 Bankruptcy in 2004; 4) filed for Chapter 13 Bankruptcy in 2002; 5) filed for Chapter 13 Bankruptcy in 1998, which Respondent converted to Chapter 7 Bankruptcy; and 6) failed to provide documentation requested by CFP Board.

28139 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to CFP Board; Diligence; Professional Discipline
Standard(s) Violated: Article 606(b); 201; 6.4; 606(a); 701; 607
Matter Type(s): Other Professional Discipline
Decision Date: 04/02/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) signed and issued an audit opinion letter as a “CPA” in State 1, when Respondent was not licensed in the state as a CPA with the State 1 CPA Board; 2) stated that he had performed an audit of Company 1, when he did not; and 3) did not have any working papers or any other audit documentation to support the audit opinion he signed and issued on behalf of Company 1.

28285 – Anonymous Case History
Decision: Suspension
Keyword(s): Conflict of Interest; Professional Discipline; Outside Business Activity; Commission/Compensation; Employer Policy Violation; Client's Best Interest
Standard(s) Violated: Article 2.2(b); 6.5; 1.4; 5.1; 4.4; 4.3
Matter Type(s): FINRA Discipline
Decision Date: 09/10/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) engaged in an outside business activity without providing notice and receiving prior written approval from his Firm; and 2) falsely certified to his broker-dealer that he was not engaged in outside business activity.

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.


28992 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Professional Discipline; Securities Laws Violation; Outside Business Activity; Employer Policy Violation
Standard(s) Violated: Article 401(a); 4.3; 406; 4.1; 4.4; 2.2(b); 606(a); 201; 1.4; 407(a)
Matter Type(s): Professionalism
Decision Date: 04/07/2017
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) engaged in outside business activities (“OBAs”) without provide notice to, and obtaining approval from, his firm in accordance with ICP’s procedures; 2) served in a fiduciary capacity as either a primary or successor trustee, or attorney-in-fact for clients without adequately disclosing to the clients how those roles might conflict with his position as their financial advisor; 3) encouraged and assisted a client to make him the beneficiary of the client’s annuity without adequately disclosing the conflict of interest created between Respondent serving as the client’s financial advisor and being designated as the beneficiary of one of the client’s assets; and 4) advised clients not to seek advice regarding the conflict of interest of making him the fiduciary of their estate and/or trust a beneficiary.

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.

28127 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Disclosure to CFP Board; Professional Discipline; Outside Business Activity
Standard(s) Violated: Article 6.5; 606(a); 406; 6.4; 606(b)
Matter Type(s): FINRA Discipline
Decision Date: 01/05/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) recommended that a client invest approximately $100,000 in an oil and gas joint venture, outside the scope of Respondent’s relationship with his Firm, and which resulted in the termination of Respondent’s employment; and 2) failed to disclose to CFP Board that he signed a FINRA AWC wherein he consented to a $5,000 fine and suspension from association with any Financial Industry Regulatory Authority, Inc. (“FINRA,” formerly known as the National Association of Securities Dealers or “NASD”) member in any capacity for a period of six months due to his outside business activities.

Page 1 of 1 , 12 Items in Total