SECURITIES ATTORNEYS FOR CFP BOARD MATTERSThe securities attorneys at KYL have valuable experience in representing financial advisors in investigations, complaints, and other disciplinary actions initiated by the Certified Financial Planner Board of Standards, Inc.
SECURITIES ATTORNEYS FOR CFP BOARD MATTERS
The securities attorneys at KYL have valuable experience in representing financial advisors in investigations, complaints, and other disciplinary actions initiated by the Certified Financial Planner Board of Standards, Inc. (“CFP Board”). Financial advisors with CFP designation must follow the CFP Board’s Standards of Professional Conduct.
CFP may conduct investigations for financial advisors who potentially violate CFP Rules, which can be triggered by a number of events, such as: customer arbitrations, criminal matters, regulatory actions by the SEC, CFTC, FINRA and state regulators, bankruptcies, employment terminations, reports from other financial advisors with CFP designation and even anonymous tips.
Sanctions for violations of CFP rules may result in a private censure, a public letter of admonition, suspension of the right to use the marks for up to five years or even permanent revocation of CFP designation
CFP NOTICE OF INVESTIGATION
The investigation process begins with a CFP Notice of Investigation sent to the CFP Certificant. This step requires a keen understanding of the allegations and potential sanctions that can result. The time allowed for filing written responses and Answers is extremely limited!
In addition to the opportunity to file a written response to the allegations, after reviewing the response, the board may decide to issue a CFP Complaint against the financial advisor, who must then file an Answer or suffer from an Administrative Order of Revocation.
Each time you renew your CFP certification, you must disclose whether you have ever been involved in any criminal, civil, self-regulatory organization or governmental agency inquiry, investigation or proceeding. Events that are otherwise not reportable to your Broker-Dealer, Employer or Regulatory Agency, may, in fact, be reportable to the board. If you have questions or concerns regarding your reporting obligations or compliance with CFP Rules, contact the securities attorneys at Eccleston Law for a free consultation to discuss your CFP Board matter.
EXPERIENCED SECURITIES ATTORNEYS FOR CFP BOARD MATTERS
CFP RELATED ARTICLES WILL BE PLACED HERE ONCE AVAILABLE.
As we draw near the close of 2023, we write to highlight some significant data privacy and protection developments from the past year. The landscape of digital rights and data privacy has experienced unprecedented changes, which not only reflect the rapid pace of...
Say No More, Stay No More: California Court Proceedings No Longer Stayed Automatically Pending Appeal of an Order Denying Arbitration
On October 10, 2023, Governor Newsom signed Senate Bill 365 (“SB 365”) into law. Effective January 1, 2024, SB 365 provides that an appeal from an order dismissing or denying a petition to compel arbitration shall not automatically stay proceedings in the trial court...
2022 Capital Markets Litigation and Regulatory Outlook CLE Webinar Back by popular demand! Jack McGuire, Esther Cho and Greg Kyle reunite for a new CLE Webinar to provide a capital markets update and discuss related litigation, regulatory and enforcement areas to keep...