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30896 – Anonymous Case History
Decision: Suspension
Keyword(s): Settlement; Revocation of a Financial Professional License; Fraud Related to Professional Activity
Standard(s) Violated: Article Article 3(d); 6.5; 5.1; 4.3
Matter Type(s): FINRA Discipline
Decision Date: 06/01/2019
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he obtained reimbursement from his firm for computer equipment he purchased but then returned or cancelled, and when he encouraged other employees to do the same and to lie to firm investigators about it.

30941 – Anonymous Case History
Decision: Suspension
Keyword(s): Misrepresentation; Forgery
Standard(s) Violated: Article 5.1; 4.4; 4.3; 2.1
Matter Type(s): Employer Action
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he signed a client’s name on two checks without her knowledge or permission and presented the checks to his firm for deposit without obtaining the firm’s permission for signing on the client’s behalf.


30420 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Forgery; Employer Policy Violation
Standard(s) Violated: Article Article 3(a); Article 3(d); 5.1; 4.3
Matter Type(s): FINRA Regulatory Action; FINRA Discipline
Decision Date: 10/25/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he had clients sign blank or undated forms and allowed staff to “white-out” dates on those forms in order to reuse them for mutual fund exchanges.


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.

18861 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Settlement; Professional Discipline; Professionalism; Misrepresentation; Diligence
Standard(s) Violated: Article 701; Article 3(a); 607; 606(b); 102; 201; 606(a)
Matter Type(s): Professionalism
Decision Date: 11/07/2008
Summary: Whether CFP® certificant (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he inaccurately completed a health insurance application for a client (“Client”), leading to rescission of the Client’s coverage and Respondent’s violation of a state statutory provision.

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.

20996 – Anonymous Case History
Decision: Suspension
Keyword(s): Settlement; Commission/Compensation
Standard(s) Violated: Article 703; 606(b); 202; 607; 702(b); 701; 102; 201
Matter Type(s): Civil Court
Decision Date: 03/27/2012
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) represented that an annuity maximization concept was appropriate and reasonably designed to meet Client’s needs and goals; 2) failed to disclose to Client that he received a commission due to his sale of a universal life insurance policy to her; 3) misrepresented Client’s assets in order to obtain the universal life insurance policy; 4) recommending a transaction that was inappropriate for Client but allowed Respondent to gain financially; 5) failed to disclose the tax consequences of the sale of mutual funds; 6) failed to fully investigate Client’s heir’s tax liability by considering the state and federal inheritance tax exemptions and the cost basis of each individual annuity; and 7) failed to appropriately determine Client’s cash flow needs in relation to her potential long-term care needs.

22054 – Anonymous Case History
Decision: Granted Petition
Keyword(s): Professionalism; Employer Policy Violation; Misdemeanor; Forgery; Settlement; Diligence
Standard(s) Violated: Article Article 3(a); 102; 606(a); 701; 606(b); 607
Matter Type(s): Other Professional Discipline; Criminal Court
Decision Date: 11/25/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he: 1) was convicted of driving under the influence and; 2) was asked to resign from a financial services firm (“Firm”) after he photocopied a client’s (“Client”) signature onto a Firm document.

22166 – Anonymous Case History
Decision: Denied But Allow Reapplication
Keyword(s): Professional Discipline; Employer Policy Violation; Diligence; Forgery; Fraud Related to Professional Activity; Professionalism
Standard(s) Violated: Article 701; 201; 607; 606(b); 406; 102; Article 3(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 11/06/2008
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he: 1) signed clients’ names on documents that the clients did not authorize Respondent to sign; and 2) violated the corporate policy of his broker-dealer in doing so.

23825 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professionalism; Outside Business Activity; Diligence; Settlement; Employer Policy Violation; Disclosure to Clients; Customer Complaints
Standard(s) Violated: Article 701; Article 3(a); 406; 606(b); 607; 201
Matter Type(s): Client Dissatisfaction
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to add a living benefit rider to an annuity as requested by two clients; 2) represented that an annuity had a principal guarantee when the guarantee existed only upon death; and 3) failed to disclose his outside fixed annuity business to his employer.

24272 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Diligence; Misrepresentation; Fitness; Record-Keeping; Professional Discipline; Revocation of Other Professional License; Settlement
Standard(s) Violated: Article 606(b); Article 3(e); 102; Article 3(d); 201; Article 3(a); 607; 701; 606(a)
Matter Type(s): Other Professional Discipline
Decision Date: 03/25/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he she improperly notarized a power of attorney and had her notary license revoked as a result.

24809 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Failure to Notify CFP Board; Suitability; Diligence; Employer Policy Violation; Professional Discipline; Borrowing from Client; Fitness; Settlement; Revocation of a Financial Professional License; Misrepresentation
Standard(s) Violated: Article Article 3(d); 202; Article 3(e); 406; 606(a); 607; 606(b); 701; 201; 102; 401(a); Article 3(a)
Matter Type(s): Other Professional Discipline; FINRA Arbitration
Decision Date: 04/26/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Board’s Standards of Professional Conduct when he: 1) offered and sold unregistered securities to clients in violation of sections of the State Securities Act; 2) failed to inform clients that the foreign currency exchange (“FOREX”) trading program investments were securities that were not registered with any state or federal regulatory authority; 3) participated in private securities transactions for compensation without providing written notice to and receiving written authorization from the Firm, in violation of its written procedures and National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority, Inc. or “FINRA”) Conduct Rules 3040 and 2110; 4) borrowed $200,000 from a client in violation of the Firm’s written procedures and NASD Conduct Rules 2370 and 2110; 5) sold a product that the Firm did not have a selling agreement with, in violation of its written procedures; and 6) failed to provide requested information to FINRA in violation of NASD Rule 8210 and NASD Conduct Rule 2110.

26853 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Forgery; Employer Policy Violation; Outside Business Activity; Fraud Related to Professional Activity; Securities Laws Violation
Standard(s) Violated: Article 606(a); 406; 701; 407(a); Article 3(a); 201; 704; 102; 401(a); 607; 606(b)
Matter Type(s): FINRA Discipline
Decision Date: 02/14/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he 1) failed to provide his firm ("Broker-Dealer") with notice of his involvment in private securities transactions with a managed currency program ("Fund"), in violation of National Association Securities Dealers ("NASD", now known as the Financial Industry Regulatory Authority, Inc. or "FINRA") Conduct Rules 3040 and 2110; 2) recommended and sold investments that were not approved by Broker-Dealer and that were outside the scope of his employment with Broker-Dealer; 3) used an outside email accout to skirt Broker-Dealer's internal controls; 4) informed his clients that the Fund was a safe investment when it was not safe; 5) signed a customer's name to account related documnets without the customer's knowledge or consent at least 16 times, in violation of NASD Conduct Rule 2110; 6) did not disclose his compensation arrangement to clients; 7) did not disclose the referral fees he received for directing clients' investments to the Fund; 8) was suspended by FINRA for violating NASD Conduct Rules 3040 and 2110; and 9) had his securities license revoked by the State Securities Division for failing to respond to the State's Order to Show Cause.

27004 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Employer Policy Violation; Forgery
Standard(s) Violated: Article 5.1; Article 3(a); 6.5; 4.3
Matter Type(s): Other Professional Discipline
Decision Date: 03/07/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he violated his firm's policies and Financial Industry Regulatory Authority, Inc. ("FINRA", formerly known as the National Association of Securities Dealers or "NASD") Rule 2012 and NASD Rule 3110(a) by signing a client's initials to a switch letter.

27037 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professional Discipline; Forgery; Suitability; Securities Laws Violation; Employer Policy Violation; Failure to Notify CFP Board
Standard(s) Violated: Article 606(a); 202; 6.5; 405; 607; 606(b); 201; 701; 406
Matter Type(s): FINRA Arbitration
Decision Date: 09/13/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) sold 20,000 stock put options in SH and YH’s account, resulting in a total unrealized loss of $430,000 and a realized loss of almost $2 million; 2) charged SH and YH full commissions on their trades when they should have been entitled to discounted rates based on the size of their investment accounts; 3) charged SH and YH an exorbitant fee of 8% a year; 4) altered the clients’ new account forms with White-out, causing Firm to retain and preserve altered records and causing him to be suspended by Financial Industry Regulatory Authority (“FINRA”) for violation of firm policy and National Association of Securities Dealers (“NASD”) Conduct Rules 2110 and 3110; and 5) failed to report his FINRA suspension within 30 days.

27227 – Anonymous Case History
Decision: Suspension
Keyword(s): Fitness; Employer Policy Violation; Supervision; Forgery; Bankruptcy
Standard(s) Violated: Article 5.1; 6.5; 4.3; Article 3(a); 4.1; 4.4
Matter Type(s): Civil Court
Decision Date: 07/20/2012
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conductwhen he: 1) filed for Chapter 7 Bankruptcy in 2010; 2) allowed clients to sign incomplete documents; and 3) allowed an assistant to add information to documents after clients had signed the document.

28116 – Anonymous Case History
Decision: Private Censure
Keyword(s): Forgery; Securities Laws Violation; Employer Policy Violation
Standard(s) Violated: Article 5.1; 4.4; 6.5; 4.3
Matter Type(s): Professionalism
Decision Date: 04/02/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she drafted and signed a letter of authorization at the direction of Client’s to facilitate a transfer of funds.

28412 – Anonymous Case History
Decision: Suspension
Keyword(s): Settlement; Felony-Non-Violent Crime
Standard(s) Violated: Article 6.5; 5.1; 3.1; 3.2
Matter Type(s): Criminal Court
Decision Date: 01/07/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he entered a plea of guilty on two felony charges and was sentenced to three years’ probation and a $10,000.00 fine for: 1) participating personally, substantially and willfully in a matter as an employee of the Internal Revenue Service (“IRS”) in which he and an organization with whom he was negotiating employment had a financial interest; and 2) willfully disclosing tax return information to another as an employee of the IRS.

28497 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Forgery; Employer Policy Violation
Standard(s) Violated: Article 6.5; 1.4; Article 3(a); 5.1; 4.4
Matter Type(s): Professionalism
Decision Date: 09/10/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he used a client’s authentic signature from a Traditional Individual Retirement Account (“IRA”) Adoption Agreement to forge an IRA Distribution Form in violation of firm policy.

30699 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professional Discipline; Fraud Related to Professional Activity; Settlement
Standard(s) Violated: Article Article 3(d); Article 3(a); 5.1; 4.4; 4.3
Matter Type(s): Employer Action; FINRA Discipline
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he falsely attested to his firm that he had confirmed a customer's intention to transfer funds out of the customer's account, enabling fraudulent transfers from that account. 

30788 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Settlement; Employer Policy Violation; Private-Securities-Transaction; Outside Business Activity
Standard(s) Violated: Article Article 3(d); Article 3(a); 5.1; 4.4; 4.3
Matter Type(s): Employer Action; FINRA Discipline
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) exceeded the scope of his pre-approved outside business activities (“OBAs”) by providing services to a company amounting to day-to-day management; (2) engaged in two undisclosed OBAs (i.e., managing a consulting firm and a family member’s LLC); and (3) engaged in a private securities transaction for the family member’s LLC without his firm’s prior approval. 

30803 – Anonymous Case History
Decision: Suspension
Keyword(s): Settlement; Customer Complaints; Private-Securities-Transaction; Outside Business Activity; Professional Discipline; Failure-to-timely-Amend-U-4; Employer Policy Violation
Standard(s) Violated: Article Article 3(a); 5.1; 4.4; 4.3
Matter Type(s): FINRA Discipline; Employer Action
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) failed to timely amend and update his Form U4 to disclose a short sale and a compromise (2) introduced and recommended to clients that they provide a short-term business loan to an investment without providing prior and/or prompt written notice to his firm; and (3) introduced and recommended an investment to three firm clients without providing prior written notice to ABC of his participation in the transactions. 

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.
 

30478 – Anonymous Case History
Decision: Private Censure
Keyword(s): Securities Laws Violation; Professional Discipline; Forgery
Standard(s) Violated: Article Article 3(a); 5.1; 4.3
Matter Type(s): FINRA Regulatory Action
Decision Date: 07/01/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) had a client sign a blank document and then copied that signature onto other client documents; and 2) had knowledge of, and permitted his branch office administrator to engage in, the same activity for multiple clients. 


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