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31048 – Anonymous Case History
Decision: Petition-for-Consideration---Denied
Keyword(s): DUI/DWI; Legal-Reinstatement
Standard(s) Violated: Article Article 3(c); Article 3(a); 6.5
Matter Type(s): Criminal; Reinstatement
Decision Date: 02/01/2019
Summary:

Whether a former CFP® professional met his burden to prove by clear and convincing evidence that he had been rehabilitated after a two-year suspension when (1) he failed to provide testimonies or letters of recommendations regarding treatment for alcohol addiction; and (2) he offered no specific evidence sufficient to demonstrate that he has a proper understanding of CFP Board’s Standards of Professional Conduct (“Standards”) and is willing to act in conformity with the Standards


31074 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to CFP Board; Felony-Non-Violent Crime; DUI/DWI
Standard(s) Violated: Article Article 3(c); 6.5
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he was convicted of Driving Under the Influence (“DUI”), which in this case was a class 4 felony because of prior misdemeanor convictions.


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.

30411 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): DUI/DWI; Third-DUI-Offense; Misdemeanor
Standard(s) Violated: Article Article 3(c); Article 3(a); 6.5
Matter Type(s): Criminal Court; Criminal
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he was convicted of DUI, Second Offense, his third DUI conviction since 1989.  
 

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.


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.

24137 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Fraud Related to Professional Activity; Customer Complaints; Professionalism; Client's Best Interest
Standard(s) Violated: Article 4.4; 2.1; 6.5; 4.5; 1.4
Matter Type(s): Civil Court
Decision Date: 12/06/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) obtained approval for a commission increase on a 401K plan from a company executive who did not normally approve such changes; and 2) recommended that officers of the company transfer management of their personal assets to Respondent’s new firm without disclosing that they would incur surrender charges.

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.

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.

25999 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Customer Complaints; Suitability; Professional Discipline
Standard(s) Violated: Article 1.4; 4.3; 4.5; 6.5; 4.4; 3.3
Matter Type(s): FINRA Arbitration
Decision Date: 12/05/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he recommended that clients purchase a high-risk illiquid security without researching the financial condition of the firm proving financial support of the investment.

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.

26931 – Anonymous Case History
Decision: Private Censure
Keyword(s): Forgery; Judgment Lien; Customer Complaints
Standard(s) Violated: Article 6.5; 201; 607; 4.3; 4.4
Decision Date: 04/11/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) assisted a client with obtaining restitution from an insurance company after taking two withdrawals in an Annuity contract year with the knowledge that it would reduce the guaranteed withdrawal benefits of the Annuity; and 2) altered dates on a client document.

26986 – Anonymous Case History
Decision: Suspension
Keyword(s): Misdemeanor; Professionalism; DUI/DWI
Standard(s) Violated: Article Article 3(a); 607; Article 3(c); 6.5
Matter Type(s): Criminal Court
Decision Date: 04/26/2012
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he was convicted of Driving While Intoxicated (“DWI”), a criminal misdemeanor, three times over a period of eight years.

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”).

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.

28392 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Customer Complaints; Settlement; Forgery; Misappropriation; Unauthorized Transaction
Standard(s) Violated: Article 4.4; 3.5; 4.1; 1.4; 3.4; 6.5; 3.8
Matter Type(s): Client Dissatisfaction
Decision Date: 11/08/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he forged his clients’ signatures in letters to a bank in order to misappropriated his clients’ assets for his own personal use by transferring the clients’ assets to his personal account.

28574 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Unauthorized Transaction; Customer Complaints; Professional Discipline; Disclosure to CFP Board
Standard(s) Violated: Article 6.5; 5.1; 4.4; 4.3; 1.4
Matter Type(s): FINRA Discipline
Decision Date: 11/08/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct he used discretion to buy bond funds for a client’s account, without obtaining prior written authorization from the client and prior written acceptance of the account as discretionary from his firm, in violation of National Association of Securities Dealers (“NASD” now known as the Financial Industry Regulatory Authority, Inc. of “FINRA”) Conduct Rule 2510(b) and FINRA Rule 2010.

28598 – Anonymous Case History
Decision: Suspension
Keyword(s): Fitness; Misdemeanor; DUI/DWI; Settlement
Standard(s) Violated: Article 607; 6.5
Matter Type(s): Civil Court
Decision Date: 11/08/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he pleaded guilty and was convicted of three alcohol-related offenses over a period of 10 years.

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.

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