CFP Board Enforcement Process: Complaint and Answer

Posted on July 6th, 2020 at 4:18 PM
CFP Board Enforcement Process: Complaint and Answer

From the Desk of Jim Eccleston at Eccleston Law LLC:

This is the third of several posts detailing the CFP Board enforcement process.  This post will focus on one potential outcome of a CFP Board investigation: a complaint filed by the CFP Board Counsel.  

The CFP Board Counsel may file a complaint against a CFP Professional if the board determines that there is probable cause to believe grounds for sanctions exist.  The complaint must include the grounds for sanction, including a detailed factual description of the conduct and a specific statement of the alleged violations, as well as likely hearing dates. 

Within 30 calendar days of delivery of the complaint, the recipient of the complaint (known as the “Respondent”) must submit a written answer.  The answer must include a detailed response to each statement in the complaint, which either admits or denies the statement. Responding to each statement in the complaint is critical. If a respondent does not respond to a statement or allegation in the complaint, that statement or allegation may be deemed admitted. Additionally, the answer must include all defenses, factual explanations or mitigating circumstances surrounding the allegations. 

CFP professionals who receive a complaint from the CFP Board should contact the professionals at Eccleston Law for a free consultation.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: eccleston, james, eccleston, eccleston law, cfp board, cfp enforcement

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Michael S.


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