1. CFP Board’s Disciplinary Rules and Procedures

2. Topic 78: CFP Board’s Disciplinary Rules and Procedures Learning Objectives Identify the grounds for disciplining of CFP® professionals. Explain the disciplinary procedures employed by the CFP Board. Distinguish between the disciplinary actions that can be taken by the CFP Board.

3. Topic 78: CFP Board’s Disciplinary Rules and Procedures Disciplinary Rules and Procedures Candidate vs. registrant Fitness standards for candidates and registrants Disciplinary and Ethics Commission (DEC) Grounds for discipline by CFP Board Forms of discipline by CFP Board Complaint and investigation procedure by CFP Board Reporting conviction of a crime

4. Topic 78: Candidate vs. Registrant Candidate Person who has applied to CFP Board to take the CFP® Certification Examination, but who has not yet met all of CFP Board’s certification requirements Registrant Individuals who are not currently certified but have been certified by CFP Board in the past Includes individuals who have relinquished their certification and are eligible for reinstatement without being required to pass the current CFP® Certification Examination Conduct at issue occurred at a time when the registrant was certified

5. Topic 78: Fitness Standards for Candidates and Registrants Standards apply to both Candidates for CFP® certification and Registrants Conduct deemed unacceptable will always bar an individual from becoming certified Conduct deemed a presumptive bar from certification will bar an individual from becoming certified unless they petition the DEC for consideration and the DEC grants their petition

6. Topic 78: Disciplinary and Ethics Commission CFP Board CEO appoints the Disciplinary and Ethics Commission (DEC or Commission) The DEC enjoins a Hearing Panel when offenses warrant investigation The Hearing Panel consists of 3 people At least 2 of the 3 will be CFP® certificants CFP Board Counsel refers to the attorney who presents the case to the Hearing Panel CFP Advisory Counsel refers to the attorney who advises the Hearing Panel and DEC

7. Topic 78: Grounds for Discipline by CFP Board Any act or omission that: Violates the Code Fails to comply with the Practice Standards Is a crime Is an infraction that is the proper basis for professional suspension Is undue failure to respond to a request by the Board Is an attempt to obstruct the Board or Panel in the performance of its duties Provides false or misleading statement to the Board

8. Topic 78: Forms of Discipline by CFP Board Matter may be dismissed without merit or cautionary letter issued Private Censure Public Letter of Admonition Public notification may be withheld under mitigating conditions Suspension May be reinstated if previously a CFP® certificant May become eligible for certification if a candidate Revocation Never eligible to be reinstated as a CFP® certificant Never will become eligible for certification if a candidate

9. Topic 78: Complaint and Investigation Procedure by CFP Board Complaint comes to CFP Board CFP Counsel feels situation warrants investigation Issue goes to the DEC The DEC enjoins the Hearing Panel The Hearing Panel makes recommendation to the DEC The DEC accepts, rejects or modifies recommendations DEC issues decision Individual has 30 days to appeal decision

10. Topic 78: Reporting Conviction of a Crime Certificant must report a conviction of a crime within 30 calendar days Traffic ticket need not be reported unless alcohol and/or drugs are involved Conviction of a serious crime or professional suspension results in immediate suspension Serious crime is any felony, a misdemeanor with financial ramifications or the intent to commit a serious crime

11. Topic 78: Reporting a Change of Contact Information Changes in certificant contact information must be reported to CFP Board within 45 days Changes include, but are not limited to: Email Physical address Telephone number