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Certification & Background
Mr. Kitwana Thomas
Certification Status
Suspended
Company
CFP Board Disciplinary History:
Yes
Bankruptcy Disclosure In Last 10 Years:
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CFP Board’s prior Bankruptcy Disclosure Procedures (effective July 1, 2012 - June 30, 2020) required public notice of a CFP® professional’s bankruptcy disclosure within the previous 10 years. Those disclosures will remain on CFP Board’s website for 10 years from the date that the CFP® professional disclosed the bankruptcy to CFP Board or the date CFP Board became aware of the bankruptcy, whichever is earlier.
No
Disclosure Information:
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In addition to FINRA and the SEC, additional information is available on the websites for the state securities and insurance regulator in the states in which the CFP® professional is licensed.
Visit FINRA's BrokerCheck and the SEC's Investment Adviser Public Disclosure for those who are subject to FINRA or SEC oversight.
CFP Board Disciplinary History
Effective Date
6/25/2019
Kitwana Thomas (Jacksonville): In June 2019, CFP Board’s Disciplinary and Ethics Commission (Commission) and Mr. Thomas entered into a settlement agreement in which Mr. Thomas agreed that CFP Board would issue a five-year suspension. In the settlement agreement, Mr. Thomas consented to CFP Board's findings that, in 2016, he converted his firm’s funds by obtaining reimbursement for computer equipment to which he was not entitled pursuant to his firm’s reimbursement program and also counseled another employee to lie in a firm investigation. CFP Board also found that Mr. Thomas entered into a Letter of Acceptance, Waiver and Consent with the Financial Industry Regulatory Authority (FINRA) with respect to the same conduct and pursuant to which he was permanently barred from association with any FINRA member firm in any capacity. CFP Board determined that Mr. Thomas’ conduct violated Rules 4.3, 5.1, and 6.5 of CFP Board's Rules of Conduct, and provided grounds for discipline pursuant to Articles 3(A) and 3(G) of CFP Board's Disciplinary Rules. Mr. Thomas’ suspension is effective from June 25, 2019 until June 25, 2024.
About CFP Board's Disciplinary Process
Ethical conduct is a central requirement of the CFP® certification, and CFP Board actively enforces its ethical standards. All individuals who hold the CFP® certification agree to abide by the rigorous ethics and practice standards contained in CFP Board’s Code of Ethics and Standards of Conduct (Code and Standards). In situations where CFP Board learns that a CFP® professional’s conduct may be in violation of the Standards, it conducts an investigation following the process outlined in CFP Board’s Disciplinary Rules and Procedures.
The Disciplinary and Ethics Commission (formerly known as the Board of Professional Review) is responsible for interpreting and applying CFP Board's Code and Standards to specific fact situations involving professionals and imposing, where necessary, the appropriate discipline. The Commission may impose several types of discipline, up to the permanent revocation of an individual’s right to use the CFP® certification marks. Individuals who are listed above with indication of a CFP Board public disciplinary history have received a public discipline – either a public letter of admonition, suspension of CFP® certification, or permanent revocation of CFP® certification. Individuals may also be disciplined privately with a cautionary letter or private censure; a private discipline is confidential and not available to the public through this search function or other means.