August 6, 2012
Dear
Colleague,
CFP
Board requests comments on proposed changes to its Rules and Procedures of the
Appeal Panel (Appeal Rules) and Disciplinary Rules and Procedures (Disciplinary
Rules). The proposed revisions were developed as part of a
comprehensive review of CFP Board’s enforcement process conducted in 2011
by outside counsel. We invite you to review the proposed revisions and
share with CFP Board your comments on the proposals.
Written
comments on the revisions must be submitted no later than September 20,
2012, to be considered.
Overview
of Proposed Revisions to Appeal Rules
The Appeal Rules outline
CFP Board’s procedures for appealing a decision of CFP Board’s Disciplinary
and Ethics Commission (DEC). The proposed revisions are intended to
incorporate the recommendations of outside counsel and generally strengthen
CFP Board’s appeal process.
Additional
details of this proposal are available on CFP Board’s website at:
www.CFP.net/downloads/CFPBoard_Appeal_Rules_Proposal_2012-08.pdf
(PDF, 117KB)
Overview
of Proposed Revisions to Disciplinary Rules
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 standards of ethical conduct for CFP®
professionals. Earlier in 2012, an initial round of revisions to the Disciplinary Rules was
announced, following a 45-day public comment period held in 2011. The
proposed revisions are intended to incorporate the remaining
recommendations stemming from the 2011 review by outside counsel and
generally strengthen CFP Board’s investigative and hearing processes.
Additional
details of this proposal are available on CFP Board’s website at:
www.CFP.net/downloads/CFPBoard_Disciplinary_Rules_Proposal_2012-08.pdf
(PDF, 364KB)
Comment
Submission Guidelines
Any individual or group wishing to comment on the proposal should submit
written comments no later than September 20, 2012. Comments may be sent to
CFP Board by email to compliance@cfpboard.org
or by mail to:
CFP Board
c/o Michael P. Shaw, Esq.
Managing Director, Professional Standards and Legal
1425 K St. NW #500
Washington, DC 20005
Comments
received will be reviewed and considered by CFP Board and will be posted on
CFP Board’s website in their entirety. Final proposed changes are expected
to be presented to the Board of Directors for approval in November 2012.
We
appreciate the opinions of all CFP Board's stakeholders and welcome your
comments on this proposal.
Sincerely,
CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS, INC.
mail@cfpboard.org
P 800-487-1497 • F 202-379-2299 • CFP.NET
1425 K STREET, NW #500 • WASHINGTON, DC 20005
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