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30421 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Record-Keeping; Fraud Related to Professional Activity
Standard(s) Violated: Article Article 3(d); Article 3(a); 5.1; 4.3
Matter Type(s): Termination
Decision Date: 06/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he maintained blank documents that were pre-signed by his clients in order to facilitate transactions for clients. 
 

30535 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Securities Laws Violation; Selling Away
Standard(s) Violated: Article Article 3(d); Article 3(a); 5.1; 4.3
Matter Type(s): FINRA Discipline
Decision Date: 07/01/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he sold an investment to clients of his firm without providing prior written notice of his participation in the transaction or obtaining his firm’s written approval to participate in the transaction. 


25775 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Customer Complaints; Misrepresentation; Employer Policy Violation; Securities Laws Violation
Standard(s) Violated: Article 406; 5.1; 6.5; Article 3(a); 704; 102; 201; 607; 4.4; 606(b); 606(a)
Matter Type(s): Client Dissatisfaction; Other Professional Discipline
Decision Date: 07/10/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) stated an annual income figure for a client on that client’s account application which he knew to be inaccurate, causing his firm’s books and records to be inaccurate and in violation of NASD Rules 3110 and 2110; 2) recommended to a client that she purchase a variable universal life insurance policy with an annual premium of $10,000 when Respondent knew that the client was unemployed; and 3) was placed on heightened supervision by his firm for violation of the firm’s lending policy and for failure to comply with firm policies and procedures relating to following pre-approval restrictions by accepting a trade on a client’s account from an unauthorized third party; and 4) was terminated by his firm for violating firm policy regarding use of discretion and accepting a trade from an unauthorized party.

25999 – Anonymous Case History
Decision: Suspension
Keyword(s): Securities Laws Violation; Customer Complaints; Suitability; Professional Discipline
Standard(s) Violated: Article 1.4; 4.3; 4.5; 6.5; 4.4; 3.3
Matter Type(s): FINRA Arbitration
Decision Date: 12/05/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he recommended that clients purchase a high-risk illiquid security without researching the financial condition of the firm proving financial support of the investment.

26763 – Anonymous Case History
Decision: Private Censure
Keyword(s): Record-Keeping; Fitness; Diligence; Misrepresentation; Professional Discipline
Standard(s) Violated: Article 6.5; Article 3(a); 5.1
Matter Type(s): SEC Discipline
Decision Date: 04/26/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he was censured and fined by the Securities and Exchange Commission ("SEC") for: 1) failing to ensure that his firm ("Firm") maintained complete and accurate employee records; 2) instructing an associated person to backdate employment-related documents; and 3) knowingly submitting the backdated documents to the SEC without disclosing that they were backdated.

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.

27983 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Securities Laws Violation; Employer Policy Violation
Standard(s) Violated: Article 6.5; 5.1
Matter Type(s): Other Professional Discipline
Decision Date: 04/11/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he was terminated in March 2012 by Firm for taking a mandatory annuity training course on behalf his supervisor (“Supervisor”) in November 2011.

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.

28165 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Client's Best Interest; Misrepresentation; Securities Laws Violation; Suitability
Standard(s) Violated: Article Article 3(a); 6.5; 4.3; 1.4; 4.4; Article 3(d); 5.1
Matter Type(s): FINRA Discipline
Decision Date: 07/31/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) used discretion to buy and sell approximately 120 Inverse Floater CMOs for his clients’ accounts without obtaining prior written authorization from the clients and prior written acceptance of their accounts as discretionary by his firm, in violation of the firm’s policy, National Association of Securities Dealers (“NASD”, now known as the Financial Industry Regulatory Authority, Inc. or “FINRA”) Rule 2510 and FINRA Rule 2010; and 2) was suspended by FINRA for violating FINRA rules.

28183 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Securities Laws Violation; Employer Policy Violation
Standard(s) Violated: Article 5.1; 4.3; 4.4; 6.5
Matter Type(s): Professionalism
Decision Date: 11/08/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he exercised discretion in entering orders for a client’s account without obtaining prior written discretionary authority, thereby violating his firm’s policy and National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority or “FINRA”) Rule 2510 and FINRA Rule 2010.

28203 – Anonymous Case History
Decision: Suspension
Keyword(s): Employer Policy Violation; Professional Discipline; Record-Keeping; Misrepresentation
Standard(s) Violated: Article 4.4; 5.1; 6.5
Matter Type(s): FINRA Discipline; Other Professional Discipline
Decision Date: 03/08/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) entered false information regarding Client’s state of residence into Firm 1’s electronic books and records; 2) included false information in an annuity application regarding the state in which Client signed the document; 3) transacted insurance business without proper state registration; and 4) was suspended by the Financial Industry Regulatory Authority, Inc. (“FINRA”, formerly known as the National Association of Securities Dealers or “NASD”).

28897 – Anonymous Case History
Decision: Private Censure
Keyword(s): Employer Policy Violation; Securities Laws Violation; Professional Discipline
Standard(s) Violated: Article 4.3; Article 3(d); Article 3(a); 5.1
Matter Type(s): Other Professional Discipline
Decision Date: 07/21/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) recommended closed-end funds (“CEF”) to his clients that were not approved by Firm; 2)mismarked order tickets as being unsolicited when they were solicited, which resulted in Firm’s books and records being inaccurate; and 3) disclosed personal trading information to clients.

31215 – Anonymous Case History
Decision: Private Censure
Keyword(s): Securities Laws Violation; Books and Records; Advertising; Employer Policy Violation
Standard(s) Violated: Article 5.1; 4.3
Matter Type(s): SEC Regulatory Action
Decision Date: 02/01/2019
Summary: Whether a CFP® professional, President and Chief Investment Officer of “WXY Planning,” violated CFP Board’s Standards of Professional Conduct when he violated U.S. Securities and Exchange Commission regulations by dispersing radio advertisements promoting WXY Planning that contained client testimonials and by failing to disclose to WXY Planning three personal securities accounts that he opened for the benefit of his immediate family members.

30876 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Securities Laws Violation
Standard(s) Violated: Article Article 3(d); 4.4; 4.3; 4.1; 2.1
Matter Type(s): Other Professional Discipline
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he allocated block trades in a manner inconsistent with his firm’s disclosed trading policy.


30210 – Anonymous Case History
Decision: Suspension
Keyword(s): Professionalism; Fiduciary Duty; Client's Best Interest; Professional Discipline; Securities Laws Violation; Misrepresentation
Standard(s) Violated: Article Article 3(d); Article 3(a); 4.4; 4.3; 2.1; 1.4
Matter Type(s): FINRA Discipline; FINRA Regulatory Action; Regulatory Action; Professionalism; Professional Organization Disciplinary Action; Other Professional Discipline
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) invested client resources into two hedge funds managed by the Respondent, when the sole investment of the funds was an Energy company with only one illiquid asset; (2) misrepresented the assets held by the hedge funds to investors; and (3) oversaw improper valuations of the hedge funds’ assets that were in violation of rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). 

30831 – Anonymous Case History
Decision: Suspension
Keyword(s): Settlement; Unreasonable-Assumptions; Misrepresentation; Failure-to-Comply-with-Custody-Rule; Securities Laws Violation
Standard(s) Violated: Article Article 3(d); Article 3(a); 4.4; 4.3; 2.1; 1.4
Matter Type(s): Regulatory Action
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) used unreasonable assumptions that resulted in large overstatements fund investment values to fund investors; (2) misrepresented the  nature  of  a fund’s principal investment relationship with a foreign company as a partnership in MD&A's sent to fund investors; (3) falsely disclosed to clients and prospective clients that the principal investment had obtained a letter of intent from a large development bank when they had not; and (4) failed to comply with applicable regulatory rules by committing enumerated acts 1-3. 

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.


30519 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Securities Laws Violation; Borrowing from Client; Professional Discipline
Standard(s) Violated: Article Article 3(d); Article 3(a); 5.1; 4.3
Matter Type(s): FINRA Discipline
Decision Date: 07/01/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he accepted cash gifts from a client and provided false responses on three quarterly compliance questionnaires regarding the receipt of cash gifts from customers


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. 


28937 – Anonymous Case History
Decision: Private Censure
Keyword(s): Securities Laws Violation
Standard(s) Violated: Article 4.4; 4.3
Matter Type(s): SEC Discipline
Decision Date: 12/04/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he, as a director of a registered investment company, approved advisory contracts for the investment company without having all the information he requested as reasonably necessary to evaluate the contracts, in violation of Section 15(c) of the Investment Company Act.

28945 – Anonymous Case History
Decision: Private Censure
Keyword(s): Professional Discipline; Securities Laws Violation; Professionalism
Standard(s) Violated: Article 2.1; 4.3; 4.4; 6.2; 6.5
Matter Type(s): FINRA Arbitration
Decision Date: 10/30/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) engaged in investment advisory business in State without proper registration, resulting in a Consent Order from the State Securities Division; and 2) failed to disclose the Consent Order with State on his 2009, 2012 and 2014 CFP® certification Renewal Applications.

28992 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Professional Discipline; Securities Laws Violation; Outside Business Activity; Employer Policy Violation
Standard(s) Violated: Article 401(a); 4.3; 406; 4.1; 4.4; 2.2(b); 606(a); 201; 1.4; 407(a)
Matter Type(s): Professionalism
Decision Date: 04/07/2017
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) engaged in outside business activities (“OBAs”) without provide notice to, and obtaining approval from, his firm in accordance with ICP’s procedures; 2) served in a fiduciary capacity as either a primary or successor trustee, or attorney-in-fact for clients without adequately disclosing to the clients how those roles might conflict with his position as their financial advisor; 3) encouraged and assisted a client to make him the beneficiary of the client’s annuity without adequately disclosing the conflict of interest created between Respondent serving as the client’s financial advisor and being designated as the beneficiary of one of the client’s assets; and 4) advised clients not to seek advice regarding the conflict of interest of making him the fiduciary of their estate and/or trust a beneficiary.

29017 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fraud Related to Professional Activity; Unauthorized Transaction; Employer Policy Violation; Securities Laws Violation
Standard(s) Violated: Article 5.1; 4.4; 3.2; 6.5
Matter Type(s): Other Professional Discipline
Decision Date: 12/06/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to obtain the proper verbal authorization from a client, as required by his firm’s Procedures Manual, prior to executing a trade, resulting in unauthorized trades and the wiring of a client’s funds to a criminal in response to a fraudulent trade request.

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.

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