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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.

17554 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fiduciary Duty; Settlement; Diligence; Misrepresentation; Breach of Contract; Negligence
Standard(s) Violated: Article 701
Matter Type(s): Civil Court
Decision Date: 08/18/2009
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he completed a client’s (“Client”) life insurance application inaccurately, resulting in the Client’s wife being denied benefits under the Client’s life insurance policy after the Client’s death.

19812 – Anonymous Case History
Decision: Private Censure
Keyword(s): Diligence; Settlement; Lawsuits Involving Financial Matters; Negligence; Misrepresentation; Breach of Contract; Fiduciary Duty
Standard(s) Violated: Article 701
Matter Type(s): Civil Court
Decision Date: 08/24/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when a state civil court found him liable for violation of a state Consumer Protection Act after the wife of a former client (“Client”) lost her claim for benefits due to an inaccurate answer on the Client’s life insurance application.

22601 – Anonymous Case History
Decision: Private Censure
Keyword(s): Negligence; Diligence
Standard(s) Violated: Article Article 3(a); 201; 701; 606(b); 607
Matter Type(s): Civil Court
Decision Date: 11/28/2011
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) prepared complex legal instruments for a mentally impaired individual ("Client") he had never met; 2) did not conduct an assesment of the Client's mental capacity prior to having her execute the legal instruments; and 3) had the Client execute legal instruments she did not and could not fully comprehend.

24265 – Anonymous Case History
Decision: Private Censure
Keyword(s): Client's Best Interest; Negligence; Suitability; Diligence
Standard(s) Violated: Article 704; 201; 606(b); Article 3(a)
Matter Type(s): Professionalism
Decision Date: 11/28/2011
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) recommended that the client ("Client") replace her existing mutual funds with a variable annuity, thereby incurring additional fees and charges; 2) failed to research alternative options that would have been more beneficial to Client; and 3) placed over 75% of Client's investment assets in a long-term variable annuity with limited liquidity.

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