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CFP Board Proposes Revisions on Ethics Commission

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The Certified Financial Planner Board of Standards released January 2 proposed revisions to its Disciplinary Rules and Procedures that it says outline the duties of the Disciplinary and Ethics Commission (DEC), and how those duties relate to those of the CFP Board’s directors, its CEO, and the Board’s legal counsel. The CFP Board set a 30-day period, until February 2, 2009, to receive public comment on the proposed revisions to Article 2 of the Disciplinary Rules, which the Board said would align the Rules with changes the Board made in February 2008 “regarding oversight of the Commission,” which was formerly known as the Board of Professional Review.

The Board noted in a release January 2 that revisions to the Rules do not require public comment, but that a Board-appointed task force recommended that the proposed revisions be released for the 30-day comment period.