Page 1 of 1 , 9 Items in Total
28738 – Anonymous Case History
Decision: Suspension
Keyword(s): Fraud Related to Professional Activity; Disclosure to Clients; Diligence; Suitability; Client's Best Interest; Fitness
Standard(s) Violated: Article 202; 102; 703; 701; 401(b); 6.5; 406; 607; 702(a); 201
Matter Type(s): FINRA Arbitration
Decision Date: 06/09/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he 1) failed to inform his clients of the taxes, penalties and interest associated with a Net Unrealized Appreciation (“NUA”) strategy; 2) failed to diligently follow up with the clients regarding the NUA strategy; 3) offered the Clients free advisory services, a refund of advisory/financial planning fees already paid and compensation for the early withdrawal penalty; and 4) did not provide documents requested by CFP Board.

28739 – Anonymous Case History
Decision: Private Censure
Keyword(s): Suitability
Standard(s) Violated: Article 607; 703; 701; 201; 202; 705
Matter Type(s): FINRA Arbitration
Decision Date: 12/04/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he sold the client unsuitable variable annuities, recommended the client mortgage her home to invest the proceeds and sold the client a LTC insurance policy that did not meet her needs.

28825 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Diligence; Professional Discipline; Professionalism
Standard(s) Violated: Article 701; 6.5; 201; 606(a); 607
Matter Type(s): Other Professional Discipline
Decision Date: 05/05/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he violated the securities laws of two states by: 1) acting as an unregistered investment adviser, securities salesperson and/or broker-dealer; 2) offering and selling an unregistered and nonexempt security; 3) offering securities to non-qualified investors; 4) misrepresented by omission in offering materials that the general partner entered into a sub-advisory agreement and shared fees with the sub-advisor; and 5) failed to disclose a state consent order on his Form ADV.

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.

29217 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Fitness; Bankruptcy
Standard(s) Violated: Article 6.5; 6.1
Matter Type(s): Civil Court
Decision Date: 04/29/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) filed for Chapter 7 Bankruptcy in 2010, which was his second bankruptcy within the span of 14 years; and 2) failed to disclose his second bankruptcy to CFP Board on his renewal application.

29269 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 6.5; 2.2(a); 2.1; 6.1
Matter Type(s): CFP Board
Decision Date: 05/08/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he inaccurately disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function.

29693 – Anonymous Case History
Decision: Suspension
Keyword(s): Disclosure to Clients; Fraud Related to Professional Activity; Fiduciary Duty
Standard(s) Violated: Article 2.1; 4.4; 2.2(b); 5.1; 1.4; 4.3
Matter Type(s): Regulatory Action; Termination
Decision Date: 11/25/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to make disclosures regarding his ownership of an investment advisory firm.

29798 – Anonymous Case History
Decision: Private Censure
Keyword(s): Unauthorized Transaction; Securities Laws Violation; Professional Discipline
Standard(s) Violated: Article 4.4; 5.1; 4.3; 6.1
Matter Type(s): Regulatory Action
Decision Date: 12/23/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she was terminated by Firm for processing an unauthorized wire transfer on a client’s behalf.

29801 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Failure to Notify CFP Board; Outside Business Activity; Disclosure to CFP Board; Employer Policy Violation
Standard(s) Violated: Article 6.5; 6.1; 5.1
Matter Type(s): Termination; Regulatory Action
Decision Date: 12/04/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) accepted customer checks made payable to him personally; 2) failed to disclose outside business activities to his Firm; 3) failed to disclose his professional suspension to CFP Board within 30-calendar days; and 4) falsely represented on his CFP Board ethics declaration that his professional license had never been suspended and he had never been terminated for cause.

Page 1 of 1 , 9 Items in Total