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CFP Board Votes to Permanently Allow Video Disciplinary Hearings

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The Certified Financial Planner Board of Standards’ board said Tuesday that it has approved amendments to its rules to permanently allow in-person hearings to be conducted by video conference.

The amendments became effective May 22.

The Disciplinary Rules and Procedures and Appeal Rules and Procedures previously permitted hearings to be conducted by phone or in person.

“Given the social distancing and other health and safety guidelines issued for the COVID-19 pandemic, it is not feasible to conduct in-person hearings with all participants in one location,” according to the CFP Board.

Kevin Keller, CFP Board’s CEO, said in a statement that the amendments “reflect the concerns of CFP Board and its Board of Directors for the well-being of our Disciplinary and Ethics Commission members, employees, appellants, and other stakeholders, and reflect the benefits of today’s efficient technology.”

CFP Board is “committed to enforcing the standards for CFP certification in a manner that is credible to the public and fair to those whose conduct CFP Board is evaluating. Enforcement is central to our work to uphold CFP certification as the standard for financial planning.”

The board of directors plans to release soon a new Procedural Rules that will replace the Disciplinary Rules and Procedures and Appeal Rules and Procedures. Drafts of proposed Procedural Rules were released for public comment in November 2018 and in March 2020.

The final rules are expected to include provisions granting the Disciplinary and Ethics Commission and the Appeals Committee the authority to conduct hearings either by phone, via video conference or in person, CFP Board said.

— Check out July CFP Exam Pushed Back to September on ThinkAdvisor.


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