WASHINGTON, DC, January 2, 2009 – Certified Financial Planner Board of Standards, Inc. (CFP
Board) is soliciting public comment on proposed revisions to its Disciplinary Rules and Procedures
(Disciplinary Rules). The proposed revisions outline the duties of the Disciplinary and Ethics
Commission (Commission), the body that administers disciplinary hearings, and the relationship of those
duties to those of CFP Board’s Board of Directors, Chief Executive Officer, and legal counsel.
The Disciplinary Rules outline CFP Board’s procedures for enforcing its Code of Ethics and
Professional Responsibility, Rules of Conduct and Financial Planning Practice
Standards, which establish ethical standards of conduct for CERTIFIED FINANCIAL PLANNER™
certificants. The revisions are intended to align the Disciplinary Rules with changes the Board of
Directors made in February 2008 regarding oversight of the Commission and to establish stated policies
for certain activities related to the Commission that are not specifically addressed in the current
Disciplinary Rules. The Board of Directors developed the proposals through discussions with
current and past members of the Commission.
CFP Board’s Bylaws and Standards of Professional Conduct – which include the Code of Ethics
and Professional Responsibility, Rules of Conduct and Financial Planning Practice
Standards – do not require revisions to the Disciplinary Rules to be released for public
comment. However, a Board-appointed task force thought it important to seek further input from CFP
Board’s stakeholders and recommended that the current proposal of revisions to the Disciplinary
Rules be released for a 30-day comment period.
An overview of the proposed revisions and a chart displaying the proposed revisions beside the current
text of Article 2 may be reviewed on CFP Board’s Web site, www.CFP.net.
Any individual or group wishing to comment on the proposed changes should submit written comments
no later than 5 p.m. February 2, 2009. Comments may be sent to CFP Board by e-mail to
compliance@CFPBoard.org or by mail to:
c/o Michael P. Shaw, Esq.
1425 K St., NW, Suite 500
Washington, DC 20005
Comments received will be posted to CFP Board’s Web site and considered by CFP Board’s Board of
Directors when it meets in February.
About CFP Board: The mission of Certified Financial
Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as
the recognized standard of excellence for personal financial planning. The Board of Directors, in
furthering CFP Board’s mission, acts on behalf of the public, CFP® certificants and other stakeholders. CFP Board
owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with
flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's
initial and ongoing certification requirements. CFP Board currently authorizes more than 58,000
individuals to use these marks in the United States. For more about CFP Board, visit www.CFP.net.
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CFP® - The Recognized Standard of Excellence in Personal Financial
Chris Wloszczyna, Director of Public Relations