? 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 Financial Services Institute’s Board unanimously elected Eric Schwartz, founder, CEO, and chairman of Cambridge Investment Research, Inc., of Fairfield, Iowa, and a founding director of FSI, as chair of the board for 2009. Schwartz succeeds Brian Murphy, chairman of Woodbury Financial Services. Mari Buechner, president and chief executive officer of Coordinated Capital Securities, Inc., of Madison, Wisconsin, was elected vice chair. In addition, Frank Tauches, executive VP and general counsel for American Portfolios Holdings, Inc., Holbrook, New York, was elected a new director for 2009.