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25468 – Anonymous Case History
Keyword(s): Diligence; Misrepresentation; Employer Policy Violation
Standard(s) Violated: Article 6.5
Matter Type(s): Civil Court
Decision Date: 10/10/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) advised a client verbally and in documentation that the client owned assets the client did not actually own; and 2) shared in the client's losses to conceal the losses from the firm.

30537 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Court Order Violation; Misappropriation; Breach of Contract; Arbitration
Standard(s) Violated: Article Article 3(a); 6.5; 5.1; 3.1
Matter Type(s): Civil Suit; Civil Court; AAA Arbitration
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) took client information from his old firm to a new firm without authorization from either the old firm or the clients; (2) breached his contract with the old firm by taking client information to a new firm and failing to timely notify the old firm of his resignation; and (3) failed to make payments on a breach of contract judgment issued by a court with appropriate jurisdiction.

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.


28882 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Diligence; Employer Policy Violation; Misrepresentation
Standard(s) Violated: Article Article 3(a); 6.5; 5.1; 4.4
Matter Type(s): Customer Complaint; Client Dissatisfaction
Decision Date: 06/01/2014
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he 1) executed a trade for a client at a later time and date than the client original requested; 2) misstated to the client his firm’s policy on management fees charged on cash balances; 3) directed his assistant to falsely state on a membership renewal application that he had no customer complaints within the last five years when he did; and 4) accepting a trade for a client via email.


23714 – Anonymous Case History
Decision: Private Censure
Keyword(s): Advertising; Professional Discipline; Misrepresentation
Standard(s) Violated: Article 606(a); 606(b); 2.1; 6.5; 609; 201; Article 3(a); 4.3
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: 1) prepared a financial review without holding a valid Certified Public Accountant (“CPA”) license, as required by state law; 2) communicated misleading information directly related to his professional qualifications and services when he advertised himself as a CPA despite not being licensed in the state in which he practiced; and 3) violated an agreement with the state requiring him to not represent himself as a public accountant and/or engage in the practice of accounting until he received a valid CPA license in the state.

23715 – Anonymous Case History
Decision: Suspension
Keyword(s): Bankruptcy; Arbitration; Fitness; Employer Policy Violation
Standard(s) Violated: Article Article 3(a); 607; 6.5
Matter Type(s): Other Arbitration
Decision Date: 04/19/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) arranged a meeting with a real estate development company to facilitate his client’s investment in a company that had not been properly evaluated by Respondent or his employer; and 2) filed for Chapter 7 Bankruptcy.

24499 – Anonymous Case History
Decision: Private Censure
Keyword(s): Misrepresentation; Advertising
Standard(s) Violated: Article 2.1; Article 3(a); 6.5
Matter Type(s): Professionalism
Decision Date: 03/25/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he stated in two advertisements that: 1) he could guarantee a six percent rate of return; 2) he could design a portfolio so that a client would “never run out of money”; and 3) none of his clients had lost any money.

25242 – Anonymous Case History
Decision: Suspension
Keyword(s): Fitness; Bankruptcy; Outside Business Activity; Disclosure to Clients; Employer Policy Violation
Standard(s) Violated: Article 6.5; 401(a); 406
Matter Type(s): Civil Court; Professionalism
Decision Date: 04/25/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Board’s Standards of Professional Conduct when she: 1) failed to adequately disclose her outside business activities to her employer; 2) failed to sufficiently document and disclose the conflict of interest of her clients investing with her family members; and 3) filed for Chapter 7 Bankruptcy.

25775 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Customer Complaints; Misrepresentation; Employer Policy Violation; Securities Laws Violation
Standard(s) Violated: Article 406; 5.1; 6.5; Article 3(a); 704; 102; 201; 607; 4.4; 606(b); 606(a)
Matter Type(s): Client Dissatisfaction; Other Professional Discipline
Decision Date: 07/10/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) stated an annual income figure for a client on that client’s account application which he knew to be inaccurate, causing his firm’s books and records to be inaccurate and in violation of NASD Rules 3110 and 2110; 2) recommended to a client that she purchase a variable universal life insurance policy with an annual premium of $10,000 when Respondent knew that the client was unemployed; and 3) was placed on heightened supervision by his firm for violation of the firm’s lending policy and for failure to comply with firm policies and procedures relating to following pre-approval restrictions by accepting a trade on a client’s account from an unauthorized third party; and 4) was terminated by his firm for violating firm policy regarding use of discretion and accepting a trade from an unauthorized party.

26226 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to Clients; Outside Business Activity; Commission/Compensation
Standard(s) Violated: Article 606(b); 102; 5.1; 607; 6.5; 201; Article 3(d); 606(a); Article 3(a); 406
Matter Type(s): FINRA Discipline
Decision Date: 07/22/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) engaged in a private securities transaction with a client and failed to: a) give prior written notice to his firm regarding his outside business activities; and b) obtain prior written approval from his firm regarding his outside business activities, in violation of his firm’s company policy requiring disclosure of outside business activities; and 2) failed to disclose to a client the referral fee he received for the client’s investment in the private securities transaction.

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.

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.

26763 – Anonymous Case History
Decision: Private Censure
Keyword(s): Record-Keeping; Fitness; Diligence; Misrepresentation; Professional Discipline
Standard(s) Violated: Article 6.5; Article 3(a); 5.1
Matter Type(s): SEC Discipline
Decision Date: 04/26/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he was censured and fined by the Securities and Exchange Commission ("SEC") for: 1) failing to ensure that his firm ("Firm") maintained complete and accurate employee records; 2) instructing an associated person to backdate employment-related documents; and 3) knowingly submitting the backdated documents to the SEC without disclosing that they were backdated.

27092 – Anonymous Case History
Decision: Private Censure
Keyword(s): Securities Laws Violation; Commission/Compensation; Advertising; Employer Policy Violation; Misuse of the Marks; Client's Best Interest; Misrepresentation
Standard(s) Violated: Article 4.1; 2.1; 4.5; 6.1; Article 3(a); 6.5; 1.4; 4.3; 5.1; 4.4
Matter Type(s): Professionalism
Decision Date: 08/09/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he 1) sold allegedly unsuitable insurance policies to his financial planning clients; 2) communicated to clients and prospective clients allegedly misleading information related to client testimonials, the registration status of his firm (“Respondent’s Firm”), and his compensation; 3) was terminated by Firm due to his use of client testimonials, failure to disclose outside business activities, and advertising violations; 4) violated State securities laws related to registration of his business entities, disclosure of outside business activities, client testimonials, and disclosure of his criminal charge to all regulatory bodies; 5) pleaded guilty to one misdemeanor count of Obtaining Contents of Communications; and 6) improperly used the CFP® marks in the Internet domain name www.respondentsnamecfp.com, the email addresses respondent@respondentsnamecfp.com and employee@respondentsnamecfp.com, and the Twitter handle @respondentsnameCFP and the corresponding Internet domain name https://twitter.com/#!/respondentsnamecfp.

27168 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Employer Policy Violation; Outside Business Activity; Unauthorized Transaction; Professional Discipline
Standard(s) Violated: Article 4.3; 6.5; 5.1; 4.4
Matter Type(s): FINRA Discipline
Decision Date: 04/26/2012
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.

27453 – Anonymous Case History
Decision: Private Censure
Keyword(s): Conflict of Interest; Failure to Cooperate with Staff; Client's Best Interest; Lawsuits Involving Financial Matters
Standard(s) Violated: Article 202; 102; 201; 6.5; 702(a); 606(b); 6.1; 607
Matter Type(s): Civil Court
Decision Date: 09/17/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) assisted a client to amend his living trust and pour-over will that provided compensation and assets to the client’s life partner and multiple charities; and 2) failed to respond to CFP Board’s requests for information.

27835 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Outside Business Activity; Employer Policy Violation
Standard(s) Violated: Article 6.5
Matter Type(s): Professionalism
Decision Date: 04/02/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to notify his firm of his of his outside business activities, which resulted in his termination by his firm and a suspension by the Financial Industry Regulatory Authority, Inc. (“FINRA” formerly known as the National Association of Securities Dealers or “NASD”).

28146 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professional Discipline; Misrepresentation; Employer Policy Violation
Standard(s) Violated: Article 6.5; 5.1; 4.3; 4.4
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 she knowingly allowed a client to impersonate her daughter during a phone call with an insurance company, which lead to Respondent’s termination by his Firm and a 2012 Financial Industry Regulatory Authority, Inc. (“FINRA”) Letter of Acceptance, Waiver and Consent (“AWC”).

28165 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Client's Best Interest; Misrepresentation; Securities Laws Violation; Suitability
Standard(s) Violated: Article Article 3(a); 6.5; 4.3; 1.4; 4.4; Article 3(d); 5.1
Matter Type(s): FINRA Discipline
Decision Date: 07/31/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) used discretion to buy and sell approximately 120 Inverse Floater CMOs for his clients’ accounts without obtaining prior written authorization from the clients and prior written acceptance of their accounts as discretionary by his firm, in violation of the firm’s policy, National Association of Securities Dealers (“NASD”, now known as the Financial Industry Regulatory Authority, Inc. or “FINRA”) Rule 2510 and FINRA Rule 2010; and 2) was suspended by FINRA for violating FINRA rules.

28203 – Anonymous Case History
Decision: Suspension
Keyword(s): Employer Policy Violation; Professional Discipline; Record-Keeping; Misrepresentation
Standard(s) Violated: Article 4.4; 5.1; 6.5
Matter Type(s): FINRA Discipline; Other Professional Discipline
Decision Date: 03/08/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) entered false information regarding Client’s state of residence into Firm 1’s electronic books and records; 2) included false information in an annuity application regarding the state in which Client signed the document; 3) transacted insurance business without proper state registration; and 4) was suspended by the Financial Industry Regulatory Authority, Inc. (“FINRA”, formerly known as the National Association of Securities Dealers or “NASD”).

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.

28828 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Outside Business Activity; Settlement; Securities Laws Violation
Standard(s) Violated: Article 6.5
Matter Type(s): FINRA Discipline
Decision Date: 04/11/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) entered into a partnership interest in the outside business of his firm, and 2) certified to the firm that he was not engaged in the outside business activity.

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.


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