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CFP Board Posts "Anonymous Case Histories"

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The Certified Financial Planner Board of Standards Inc. is turning to the Web to show interested parties how its disciplinary arm works.

The CFP Board, Washington, has started to post “anonymous case histories” from its Disciplinary and Ethics Commission on its website.

The commission hears allegations of misconduct by CFP certificants.

The anonymous case histories are based on cases heard from November 2007 to July 2009.

Members of the public and others may be able to use the case histories to determine whether activities violate CFP standards, and CFP certificants may be able to use the case histories to evaluate settlement offers, CFP Board officials say.

The case histories describe the issues in a case, describe the commission’s factual findings and provide the commission’s reasons for determining whether a rule was violated and its reasoning for imposing sanctions.

Unlike the case summaries the CFP Board has released in the past, the new case histories include interim suspension orders — which are imposed in cases involving criminal convictions, license suspensions or an alleged pattern of misconduct — and the outcome of appeals to the CFP Board’s appeals committee.


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