CFP Board’s Board of Directors Approves Provisions for Conducting Disciplinary Hearings Via Video Conferencing
Certified Financial Planner Board of Standards, Inc. today announced that its Board of Directors has approved amendments to CFP Board’s Disciplinary Rules and Procedures and Appeal Rules and Procedures that permanently allow in-person hearings to be conducted by video conference. The amendments became effective May 22, 2020.
The Disciplinary Rules and Procedures and Appeal Rules and Procedures previously permitted hearings to be conducted telephonically or in person. Given the social distancing and other health and safety guidelines issued for the COVID-19 pandemic, it is not feasible to conduct in-person hearings with all participants in one location. The Board voted to permanently allow in-person video conference hearings.
“These amendments reflect the concerns of CFP Board and its Board of Directors for the well-being of our Disciplinary and Ethics Commission members, employees, appellants, and other stakeholders, and reflect the benefits of today’s efficient technology,” said Kevin R. Keller, CAE, CFP Board’s CEO. “We are committed to enforcing the standards for CFP® certification in a manner that is credible to the public and fair to those whose conduct CFP Board is evaluating. Enforcement is central to our work to uphold CFP® certification as the standard for financial planning.”
In the near future, the Board of Directors will release a new Procedural Rules that will replace the Disciplinary Rules and Procedures and Appeal Rules and Procedures. Drafts of proposed Procedural Rules were released for public comment in November 2018 and in March 2020. The final Procedural Rules are expected to include provisions granting the Disciplinary and Ethics Commission and the Appeals Committee the authority to conduct hearings either telephonically, via video conference, or in person.
Certified Financial Planner Board of Standards, Inc. is the professional body for personal financial planners in the U.S. CFP Board sets standards for financial planning and administers the prestigious CFP® certification – one of the most respected certifications in financial services – so that the public has access to and benefits from competent and ethical financial planning. CFP Board, along with its Center for Financial Planning, is committed to increasing the public’s awareness of CFP® certification and access to a diverse, ethical and competent financial planning workforce. Widely recognized by firms and consumer groups as the standard for financial planning, CFP® certification is held by more than 87,000 people in the United States.
Director, External Communications