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16502 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Fraud-Other; Unauthorized Transaction; Disclosure to Clients; Professionalism; Misrepresentation; Employer Policy Violation; Professional Discipline; Securities Laws Violation; Diligence
Standard(s) Violated: Article 406; 606(a); Article 3(a); 102; 704; 606(b); 607; 201; 701
Matter Type(s): Civil Court
Decision Date: 11/10/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he sold promissory notes without receiving prior approval from his firm, resulting in: 1) a National Association of Securities Dealers (“NASD”) bar; 2) two terminations; and 3) two civil suits being filed against him.

31341 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Failure to Register; Books and Records
Standard(s) Violated: Article 4.1; 4.3
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when she failed to maintain proper books and records and file annual updating amendments to ADV Forms.


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.

30034 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professionalism; Securities Laws Violation; Professional Discipline
Standard(s) Violated: Article 4.3; 4.1; Article 3(a); 1.4
Matter Type(s): Regulatory Action
Decision Date: 10/06/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he entered into a settlement with the State Department of Consumer and Business Services Division of Finance and Corporate Securities (“State”), in which State found Respondent charged unreasonable advisory fees on rare coins because he relied on an inaccurate source to value the coins.

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