The aim is to maintain consistency in imposing sanctions for similar offenses. The guidelines also would be used by the board’s Appeals Committee.
The guidelines identify specific actions that violate the CFP Board’s Standards of Professional Conduct. Neither the commission nor the appeals committee are bound by the guidelines. The guidelines, along with anonymous case histories, are intended to guide the decision-making of the commission and appeals committee. Either may deviate from the guidelines in light of aggravating facts that warrant a more severe sanction or mitigating factors that warrant a lighter one.
Comments may be sent to CFP Board to compliance@cfpboard.org or by mail to: CFP Board c/o Michael P. Shaw, Esq.; 1425 K St., NW, #500; Washington, DC 20005.
Comments received will be reviewed and considered by the CFP Board and will be posted on its website in their entirety. Final proposed changes are expected to be presented to the CFP Board’s Board of Directors for approval in July.
The complete proposal is available here.
