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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.

27223 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Failure to Cooperate with Staff; Fitness; Bankruptcy
Standard(s) Violated: Article Article 3(f); 607; 6.1; Article 3(a)
Matter Type(s): Civil Court; Criminal Court
Decision Date: 03/09/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) filed for Chapter 7 Bankruptcy in December 2007; and 2) failed to provide documents requested by CFP Board Staff.

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