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30547 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Failure-to-Disclose-to-Firm; Client's Best Interest; Fiduciary Duty; Failure-to-Supervise
Standard(s) Violated: Article Article 3(g); Article 3(a); 6.1; 4.6; 5.1; 4.3; 6.5; 1.4
Matter Type(s): Employer-Investigation
Decision Date: 06/01/2018
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) failed to properly supervise subordinates, resulting in one subordinate being named as a beneficiary of several clients’ accounts, creating a conflict of interest; (2) was named as a beneficiary in several client accounts, in violation of firm policy; and (3) failed to disclose and obtain approval from his firm after he was named as a beneficiary of both client and non-client accounts.


15094 – Anonymous Case History
Decision: Suspension
Keyword(s): Misuse of the Marks; Lawsuits Involving Financial Matters; Arbitration; Customer Complaints; Disclosure to Clients; Suitability; Diligence; Professionalism; Misrepresentation
Standard(s) Violated: Article Article 3(a); 607; 601; 201; 704; 606(b); 701; 102
Matter Type(s): FINRA Arbitration
Decision Date: 08/11/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he: 1) recommended variable annuities to elderly clients; and 2) omitted the registered trademark symbol when referring to CFP® on his letterhead, certification salutations and documents.

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.

30692 – Anonymous Case History
Decision: Revocation
Keyword(s): Failure-to-Disclose; Due-Diligence; Failure-to-Disclose-to-Firm; Outside Business Activity
Standard(s) Violated: Article Article-3(e)-3(d); 5.1; 4.4; 4.3; 4.2
Matter Type(s): Failure to Disclose to CFP Board; FINRA Regulatory Action; FINRA Discipline
Decision Date: 06/01/2018
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) engaged in an undisclosed outside business activity; (2) failed to perform due diligence in connection with the outside business activity, leading to a bar by the Financial Industry Regulatory Authority (“FINRA”); and (3) failed to disclose his FINRA bar to CFP Board.


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