Can the CFP Board fine you?
Etzweiler consented to findings that his conduct violated Rule 6.5 of the Rules of Conduct, providing grounds for the sanction imposed. Accordingly, the Commission issued to Mr. Etzweiler a Public Censure….Share this article.
| STATE | California |
|---|---|
| NAME | Grant Ter-Avanesyan, CFP® |
| LOCATION | Dublin |
| DISCIPLINE | Public Censure |
What four forms of discipline can be applied by CFP Board’s Disciplinary and Ethics?
Article 4: Forms of Discipline
- 4.1 Private Censure. The DEC may order private censure of a Respondent, which shall be an unpublished written reproach mailed by the DEC to a censured Respondent.
- 4.2 Public Letter of Admonition.
- 4.3 Suspension.
- 4.4 Revocation.
What is the CFP code of ethics?
CFP Board’s Code of Ethics and Standards of Conduct requires CFP® professionals to uphold the principles of integrity, objectivity, competence, fairness and confidentiality. They make a commitment to CFP Board to put their clients’ interests first at all times when providing financial advice.
Is the CFP Board a self regulatory organization?
4. CFP Board Is Different Than a Government Agency or Self-Regulatory Organization (SRO) The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States.
Which of the following is not a principle of the Board of Standards code of ethics and Professional Responsibility?
Objectivity and Competence are Principles of CFP Board’s Code of Ethics and Professional Responsibility. Independence and Disclosure are not Principles.
When can a CFP reveal confidential information?
The duty of Confidentiality and Privacy in the new Code and Standards requires that “A CFP® professional must keep confidential and may not disclose any non-public personal information about any prospective, current, or former Client,” subject to specific exceptions.
How many types of discipline are there in an ethics hearing?
Discipline in an ethics case may not include more than one form of discipline. T** F 19. The ethics enforcement process includes an initial screening by the Grievance Committee.
Which of the following items must a CFP professional report to CFP Board within 30 calendar days?
A CFP® professional must provide written notice to CFP Board within thirty (30) calendar days of both the initiation and conclusion of the reportable matter, and include a narrative statement that accurately and completely describes the material facts and the outcome or status of the reportable matter.
Does CFP have fiduciary duty?
Fiduciary Duty At all times when providing Financial Advice to a Client, a CFP® professional must act as a fiduciary, and therefore, act in the best interests of the Client.
Is a CFP always a fiduciary?
All CFPs must meet the same basic requirements to earn the privilege of carrying the CFP certification. CFPs also must always act as fiduciaries when providing financial advice to their clients.
What is a potential conflict of interest for a CFP?
For example, a conflict of interest may exist where the client is a friend, spouse, family member, business partner, debtor or investor. In such circumstances, the personal or financial interest impacts the Certificant’s ability to provide objective advice to the client and/or put the client’s interests first.
Which of the following is not a principle in the CFP Board’s Code of Ethics integrity fairness honesty diligence?
A. Objectivity and Competence are Principles of CFP Board’s Code of Ethics and Professional Responsibility. Independence and Disclosure are not Principles.
What are the 3 main categories of the Code of Ethics?
The Code of Ethics is divided into three major sections, “Duties to Clients and Customers,” “Duties to the Public,” and “Duties to REALTORS.”
What violations may lead to disciplinary actions?
The bases for the discipline or termination of an employee are the following: Unsatisfactory job performance or gross inefficiency in job performance; Violation of published College policies or failure to adhere to College procedures; or. Unacceptable personal conduct.
What is a conflict of interest for a CFP?
A “Conflict of Interest” arises when: A CFP® professional’s interests (including the interests of the CFP® Professional’s Firm) are adverse to the CFP® professional’s duties to a Client; or. A CFP® professional has duties to one Client that are adverse to another Client.
How do you know if a CFP is a fiduciary?
Visit napfa.org to check their database. You can also research potential advisory firms through the SEC’s adviser search tool. If the advisory firm is a federally Registered Investment Adviser, and thus a fiduciary, it will have what is called a Form ADV filing available to be viewed online.