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May 16, 2023 at 05:10 PM
The Certified Financial Planner Board of Standards adopted revised Procedural Rules that it said Tuesday will become effective Sept. 1.
Once they take effect, the new rules will “govern in all proceedings then pending or thereafter commenced,” CFP Board said.
The Procedural Rules outline processes for investigating alleged misconduct and enforcing CFP Board’s Code of Ethics and Standards of Conduct in a manner that it says was “designed to be fair to those whose conduct is being evaluated as well as credible to the public.”
One change in the revised Procedural Rules is that some administrative functions will be transferred from the CFP Board enforcement department to its adjudication department, the organization said.
Additionally, the role of Disciplinary and Ethics Commission Counsel has been expanded to “make the adjudication process more efficient, eliminate settlement counteroffers, enable pre-investigation outreach and establish a process for admitting expert testimony,” CFP Board said.
“The revised Procedural Rules reflect our ongoing efforts to hold CFP professionals to rigorous standards of conduct and to uphold the trust that clients place in them,” according to Kevin R. Keller, CFP Board CEO.
