Page 1 of 1 , 12 Items in Total
30450 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Books and Records; Conflict of Interest; Disclosure to Clients; Client's Best Interest
Standard(s) Violated: Article Article 3(d); 4.4; 4.3; 2.2(b); 1.4; Article 3(a)
Matter Type(s): Regulatory Action; CFP Board
Decision Date: 10/02/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to: (a) seek best execution for clients when investing them in share classes that charged 12b-1 fees despite the availability of corresponding share classes without the fees; (b) disclose in his firm’s Forms ADV and advisory agreements the conflicts of interest that existed regarding his recommendations to clients of mutual funds that contained 12b-1 fees; and (c) perform required annual compliance reviews.


19994 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Outside Business Activity; Misrepresentation; Disclosure to Clients; Employer Policy Violation; Failure to Respond to CFP Board; Conflict of Interest
Standard(s) Violated: Article Article 3(a); 201; 409; 406; 607; 102; Article 3(f); 606(b); 407(a); 408
Matter Type(s): Professionalism; Client Dissatisfaction; Civil Court
Decision Date: 04/07/2008
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when she sold an interest-bearing promissory note to her client (“Client”) that she represented to the Client as a limited liability interest in a real estate investment venture.

21048 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Professional Discipline; Felony-Theft; Embezzlement or Other Financial; Securities Laws Violation; Competency; Fitness; Misrepresentation; Fraud Related to Professional Activity; Interim Suspension
Standard(s) Violated: Article 201; 607; Article 3(c); 606(b); 606(a); 102; 406; 302; Article 3(a)
Matter Type(s): Professionalism
Decision Date: 08/10/2009
Summary: Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he: 1) sold securities to clients while not licensed to do so; 2) promised investors large returns and guaranteed their principal on fraudulent investments; and 3) pleaded guilty to a felony investment fraud charge.

21594 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Diligence; Failure to Respond to CFP Board; Employer Policy Violation; Unauthorized Transaction; Professionalism; Professional Discipline
Standard(s) Violated: Article Article 3(a); 607; 606(a); 201; 701; 406; 606(b)
Matter Type(s): Professionalism
Decision Date: 09/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he did not respond to a Complaint issued to him by CFP Board.

22305 – Anonymous Case History
Decision: Suspension
Keyword(s): Diligence; Employer Policy Violation; Conflict of Interest; Borrowing from Client
Standard(s) Violated: Article Article 3(a); 406; 201; 606(b); 409; 607
Matter Type(s): Professionalism; Civil Court
Decision Date: 04/06/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) accepted a $100,000 loan from a client, which violated his firm's policy against borrowing from clients; 2) failed to repay the client's loan according to the original terms of the promssory note; 3) failed to disclose any potential conflicts of interest and the risks associated with the promissory note; 4) failed to determine whether the promissory note he executed with his client was appropriate for his client; 5) allowed the client to purchase a piece of real estate for Respondent's benefit; and 6) failed to disclose any potential conflicts of interest and the risks associated with the client's purchase of a piece of real estate.

22505 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Breach of Contract; Confidentiality; Forgery; Advertising; Misrepresentation; Disclosure to CFP Board; Professional Discipline
Standard(s) Violated: Article Article 3(e); 607; 503; 406; 102; Article 3(a); 501; 606(b); 201
Matter Type(s): Professionalism
Decision Date: 12/22/2009
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) forged a client’s signature by cutting and pasting the signature from one document to another; 2) disclosed client information to third parties without authorization from the client; 3) mailed a solicitation in potential violation of a non-compete agreement between an employee and the employee’s former firm; 4) misrepresented to his partner that he had sought the advice of counsel prior to mailing the solicitation; and 5) received a 15-day professional suspension from a state regulator.

24019 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fitness; Professional Discipline; Employer Policy Violation; Professionalism
Standard(s) Violated: Article 406; 606(a); 607; 606(b); 6.5; 201; Article 3(a)
Matter Type(s): Professionalism
Decision Date: 07/23/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to file the required documentation regarding brief remarks at a cocktail party (“Presentation”); and 2) failed to disclose to his firm and a state regulator that he conducted the Presentation.

28077 – Anonymous Case History
Decision: Suspension
Keyword(s): Diligence; Professional Discipline; Misrepresentation; Employer Policy Violation
Standard(s) Violated: Article 4.4; 4.3; 5.1; 2.1; 6.1
Matter Type(s): Professionalism
Decision Date: 07/31/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she provided information to a client’s creditors regarding purported wire transfers from the client’s brokerage accounts which the client had not actually made.

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”). 

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.

28993 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Revocation of a Financial Professional License; Misappropriation; Fraud Related to Professional Activity; Employer Policy Violation
Standard(s) Violated: Article 607; 6.5; 406; 102; 5.1
Matter Type(s): Professionalism
Decision Date: 12/05/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he misappropriated funds and submitted false records to his member firm regarding business expense reimbursement claims for personal expenditures over a period of more than five years.

29057 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professional Discipline
Standard(s) Violated: Article 4.3; 6.5; 5.1; 4.4
Matter Type(s): Professionalism; FINRA Discipline
Decision Date: 11/21/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she instructed her clients to sign forms that were incomplete, in violation of her firm’s policy and Financial Industry Regulatory Authority, Inc. (“FINRA”) Rule 2010.

Page 1 of 1 , 12 Items in Total