Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

CFP Board Adopts Revised Procedural Rules

Posted on May 23rd, 2023 at 1:12 PM
CFP Board Adopts Revised Procedural Rules

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï 

The Certified Financial Planner Board (CFP Board) recently announced the adoption of the revised Procedural Rules. These rules, which will come into effect on September 1, 2023, aim to establish fair and credible processes for investigating misconduct and enforcing the CFP Board's Code of Ethics and Standards of Conduct.

The revised Procedural Rules introduce several changes. One notable change is the transfer of certain administrative functions from the Enforcement Department to the Adjudication Department. Additionally, the role of the Disciplinary and Ethics Commission (DEC) Counsel will be expanded to improve the efficiency of the adjudication process further.

Another significant (and unusual) modification is the elimination of settlement counteroffers. This change suggests that the CFP Board intends to adopt a more rigid stance on settlements and may prioritize a consistent approach to enforcing the Code and Standards.

The revised Procedural Rules will enable pre-investigation outreach. This provision allows the CFP Board to contact parties involved in an alleged misconduct case before the formal investigation begins. Such outreach can provide an opportunity for clarification or resolution before the matter proceeds to a formal investigation.

Lastly, the new rules establish a process for admitting expert testimony. This addition indicates the CFP Board's commitment to ensuring that expert opinions are appropriately considered and weighed during the adjudication process.

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities,
employment, transition, regulatory, and disciplinary (including CFP Board) matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

You were most helpful with my FINRA deposition. You are a good lawyer and a good person.

Dan B.

LATEST NEWS AND ARTICLES

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.

1783434190 Law
July 7, 2026
Private Credit Funds Face Mounting Redemption Pressure as Investor Sentiment Shifts

A surge in investor redemption requests has intensified pressure on private credit funds, raising concerns about liquidity and long-term stability across the asset class, as reported by The Wall Street Journal.