CFP Board Advances Measures for Heightened Accountability and Transparent Public Sanctions
From the desk of Jim Eccleston at Eccleston Law
The CFP Board has revealed that it will release the Disciplinary and Ethics Commission (DEC) orders imposing sanctions alongside the public sanction news releases that it already publicizes.
The release of DEC orders offers key details about cases resulting in public sanctions, providing CFP® professionals, clients, and the public with deeper insights into the DEC's decision-making process and the specific circumstances of each case.
As reported by FinancialPlanning, some see the move as a step towards promoting professional accountability, drawing parallels with protocols in other professions such as medical boards, accountancy boards, and attorney disciplinary bodies.
On the other hand, and given the increased public nature of the process, CFP professionals facing discipline would be well served to retain competent, experienced legal counsel to defend them in any such disciplinary proceedings.
Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.
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