Page 1 of 1 , 22 Items in Total
29377 – Anonymous Case History
Decision: Private Censure
Keyword(s): Securities Laws Violation; Misrepresentation; Employer Policy Violation
Standard(s) Violated: Article Article 3(a); 5.1; 6.5; 4.4; 4.3
Matter Type(s): FINRA Regulatory Action; Employer Action
Decision Date: 03/01/2015
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he impersonated a client on the telephone to execute trades in the client’s account.


28691 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Unauthorized Transaction; Employer Policy Violation
Standard(s) Violated: Article Article 3(a); 6.5; 5.1; 4.4; 4.3
Matter Type(s): Employer Action; FINRA Regulatory Action
Decision Date: 03/01/2015
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he executed nine purchase transactions in the client’s account without written authorization, in violation of his firm’s policy, National Association of Securities Dealers (“NASD”) Rule 2510(b) and Financial Industry Regulatory Authority, Inc. (“FINRA”) Rule 2010.


29370 – Anonymous Case History
Decision: Private Censure
Keyword(s): Employer Policy Violation; Forgery
Standard(s) Violated: Article Article 3(a); 6.5; 5.1; 4.3
Matter Type(s): Employer Action; Other Professional Discipline
Decision Date: 06/01/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he notarized a form without witnessing the client signing the form.
 

28738 – Anonymous Case History
Decision: Suspension
Keyword(s): Fraud Related to Professional Activity; Disclosure to Clients; Diligence; Suitability; Client's Best Interest; Fitness
Standard(s) Violated: Article 202; 102; 703; 701; 401(b); 6.5; 406; 607; 702(a); 201
Matter Type(s): FINRA Arbitration
Decision Date: 06/09/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he 1) failed to inform his clients of the taxes, penalties and interest associated with a Net Unrealized Appreciation (“NUA”) strategy; 2) failed to diligently follow up with the clients regarding the NUA strategy; 3) offered the Clients free advisory services, a refund of advisory/financial planning fees already paid and compensation for the early withdrawal penalty; and 4) did not provide documents requested by CFP Board.

28739 – Anonymous Case History
Decision: Private Censure
Keyword(s): Suitability
Standard(s) Violated: Article 607; 703; 701; 201; 202; 705
Matter Type(s): FINRA Arbitration
Decision Date: 12/04/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he sold the client unsuitable variable annuities, recommended the client mortgage her home to invest the proceeds and sold the client a LTC insurance policy that did not meet her needs.

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.

28825 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Diligence; Professional Discipline; Professionalism
Standard(s) Violated: Article 701; 6.5; 201; 606(a); 607
Matter Type(s): Other Professional Discipline
Decision Date: 05/05/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he violated the securities laws of two states by: 1) acting as an unregistered investment adviser, securities salesperson and/or broker-dealer; 2) offering and selling an unregistered and nonexempt security; 3) offering securities to non-qualified investors; 4) misrepresented by omission in offering materials that the general partner entered into a sub-advisory agreement and shared fees with the sub-advisor; and 5) failed to disclose a state consent order on his Form ADV.

28835 – Anonymous Case History
Decision: Suspension
Keyword(s): Borrowing from Client
Standard(s) Violated: Article 3.6; 4.4; Article 3(b); 1.4; 607; 6.5; 2.2(e); Article 3(a); 201; 606(b)
Matter Type(s): Professionalism
Decision Date: 10/16/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to exercise reasonable and prudent judgment when he: 1) through his alter ego, his company, borrowed money from multiple clients, including a financial planning client; and 2) personally borrowed money from a client.

28980 – Anonymous Case History
Decision: Suspension
Standard(s) Violated: Article 6.5; 607
Matter Type(s): FINRA Discipline
Decision Date: 02/20/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to pay his IRS and State taxes for the 2000 through 2008 tax years, pay his IRS taxes for the 2009 tax year and amend his Form U4 to disclose two unsatisfied tax liens as required by the Financial Industry Regulatory Authority, Inc.’s (“FINRA”) By-Laws and Rules.

29051 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Suitability; Professional Discipline; Client's Best Interest
Standard(s) Violated: Article 4.5; 1.4; 5.1; 4.1; 6.5; 4.4; 4.3
Matter Type(s): Other Professional Discipline
Decision Date: 06/10/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he recommended a client liquidate her variable annuity without: 1) becoming the agent of record on the variable annuity; 2) handling the liquidation through his employer; 3) seeking approval from his employer for conducting outside business activities; and 4) knowing the cost basis of the variable annuity prior to making the recommendation.

29190 – Anonymous Case History
Decision: Granted Petition
Standard(s) Violated: Article 606(b); 607; 606(a); 406; 201
Matter Type(s): CFP Board
Decision Date: 04/13/2015
Summary: Pursuant to Article 16.2 of CFP Board’s Disciplinary Rules and Procedures, an individual who has received a suspension for a period of longer than one year must petition the Disciplinary and Ethics Commission (the “Commission”) for reinstatement. At the hearing, a petitioner must prove by clear and convincing evidence that the petitioner has been rehabilitated, has complied with all applicable disciplinary orders and provisions of CFP Board’s Disciplinary Rules, and that the petitioner is fit to use the CFP® marks.

29214 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Outside Business Activity; Professional Discipline
Standard(s) Violated: Article 6.1; 5.1; 6.5
Matter Type(s): FINRA Discipline
Decision Date: 05/10/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to timely and accurately notify his broker-dealer of his outside business activities in violation of NASD Rule 3030 and FINRA Rules 2010 and 3270; 2) participated in private securities transactions without providing prior written notice to and obtaining prior approval from his broker-dealer in violation of NASD Rule 3040 and FINRA Rule 2010; and 3) failed to disclose to CFP Board in writing his FINRA suspension, which FINRA issued in December 2013, within 30 days as required by Article 13.2 of the Disciplinary Rules.

29573 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fraud Related to Professional Activity; Misrepresentation
Standard(s) Violated: Article 4.3; 102; 606(a); 2.1; 607; 6.5
Matter Type(s): Arbitration; Regulatory Action
Decision Date: 11/06/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he held himself out to the public as a licensed Certified Public Accountant (“CPA”) while he was not licensed as a CPA.

29669 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Bankruptcy
Standard(s) Violated: Article 607; 6.5
Matter Type(s): Bankruptcies
Decision Date: 12/09/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he filed for Chapter 13 Bankruptcy in 1995 and again in 2015.

29680 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Professional Discipline; Misrepresentation; Securities Laws Violation; Outside Business Activity
Standard(s) Violated: Article 4.3; 5.1; 6.2; 3.7; 6.5; 4.4
Matter Type(s): Regulatory Action
Decision Date: 12/04/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) participated in at least three separate outside business activities without providing prior notice to, or receiving approval from, his employer member firms; 2) loaned money to three individuals who were Respondent’s clients, in violation of firm policy; 3) presented a private securities transaction to clients in which eight clients ultimately invested without seeking or obtaining written approval from his employer member firms; 4) provided false information and false documents to FINRA; and 5) represented to his employer in a compliance questionnaire that he was not participating in any outside business activities that required disclosure and that he had not participated in any private securities transactions when he was involved in outside business activities and private securities transactions.

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.

29756 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Suitability
Standard(s) Violated: Article 4.3; 201; 5.1
Matter Type(s): Regulatory Action
Decision Date: 12/04/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to register an office conducting securities business as a branch office; and 2) recommended private placement that increased the concentration of the client’s assets in real estate to 90% of her net worth resulted in the client having limited liquid assets.

29798 – Anonymous Case History
Decision: Private Censure
Keyword(s): Unauthorized Transaction; Securities Laws Violation; Professional Discipline
Standard(s) Violated: Article 4.4; 5.1; 4.3; 6.1
Matter Type(s): Regulatory Action
Decision Date: 12/23/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she was terminated by Firm for processing an unauthorized wire transfer on a client’s behalf.

29800 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to CFP Board; Professional Discipline; Bankruptcy; Failure to Notify CFP Board
Standard(s) Violated: Article 2.1; 5.1; 4.3; 6.2; 6.5
Matter Type(s): Regulatory Action
Decision Date: 10/30/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) from January 2010 through December 2010, held himself out to the public, and practiced as a CPA when he was not currently licensed; and b) failed to timely amend his Form U4 to disclose a personal bankruptcy filing.

29801 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Failure to Notify CFP Board; Outside Business Activity; Disclosure to CFP Board; Employer Policy Violation
Standard(s) Violated: Article 6.5; 6.1; 5.1
Matter Type(s): Termination; Regulatory Action
Decision Date: 12/04/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) accepted customer checks made payable to him personally; 2) failed to disclose outside business activities to his Firm; 3) failed to disclose his professional suspension to CFP Board within 30-calendar days; and 4) falsely represented on his CFP Board ethics declaration that his professional license had never been suspended and he had never been terminated for cause.

29802 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professional Discipline; Securities Laws Violation; Customer Complaints
Standard(s) Violated: Article 5.1; 4.3; 6.5
Matter Type(s): Regulatory Action
Decision Date: 12/04/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she was the subject of a Financial Industry Regulatory Authority, Inc. (“FINRA”) regulatory action and a 2008 customer complaint.

29364 – Anonymous Case History
Decision: Private Censure
Keyword(s): Record-Keeping; Previous Discipline
Standard(s) Violated: Article 5.1; 4.3; 6.5
Matter Type(s): Other Professional Discipline
Decision Date: 04/10/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to: 1) adopt and implement written policies and procedures for his firm; 2) review and document the review of such policies and procedures at least annually; and 3) failed to accurately state in his Form ADV Part 2A that he did not complete advisory contracts for all of his clients.

Page 1 of 1 , 22 Items in Total