Tr?id=566623520170033&ev=PageView&noscript=1

CFP Board Adopts Revised Procedural Rules

Posted on May 23rd, 2023 at 1:12 PM
CFP Board Adopts Revised Procedural Rules

From the desk of Jim Eccleston at Eccleston Law 

The Certified Financial Planner Board (CFP Board) recently announced the adoption of the revised Procedural Rules. These rules, which will come into effect on September 1, 2023, aim to establish fair and credible processes for investigating misconduct and enforcing the CFP Board's Code of Ethics and Standards of Conduct.

The revised Procedural Rules introduce several changes. One notable change is the transfer of certain administrative functions from the Enforcement Department to the Adjudication Department. Additionally, the role of the Disciplinary and Ethics Commission (DEC) Counsel will be expanded to improve the efficiency of the adjudication process further.

Another significant (and unusual) modification is the elimination of settlement counteroffers. This change suggests that the CFP Board intends to adopt a more rigid stance on settlements and may prioritize a consistent approach to enforcing the Code and Standards.

The revised Procedural Rules will enable pre-investigation outreach. This provision allows the CFP Board to contact parties involved in an alleged misconduct case before the formal investigation begins. Such outreach can provide an opportunity for clarification or resolution before the matter proceeds to a formal investigation.

Lastly, the new rules establish a process for admitting expert testimony. This addition indicates the CFP Board's commitment to ensuring that expert opinions are appropriately considered and weighed during the adjudication process.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities,
employment, transition, regulatory, and disciplinary (including CFP Board) matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I am so glad I found you! Wow! I appreciate your help, concern and guidance.

RB

LATEST NEWS AND ARTICLES

1776182162 Law
April 14, 2026
FINRA Seeks Public Comment on Potential Overhaul of Arbitration Rules

The Financial Industry Regulatory Authority (FINRA) has issued Regulatory Notice 26-06, requesting public comments on proposed changes to its arbitration framework.

1776094855 Law
April 13, 2026
SEC Issues Long-Awaited Guidance on Digital Assets

The U.S.

1775837448 Law
April 10, 2026
FINRA Charges Former Pruco Securities Broker With Forging Annuity Applications to Generate Commissions

The Financial Industry Regulatory Authority (FINRA) has filed a complaint against former Pruco Securities broker Avinesh Shankar, accusing him of forging customer signatures on dozens of annuity applications in order to collect advance commissions.