CFP Board Enforcement Process: No Challenges in CFP Board Proceeding to Criminal Convictions, Professional Discipline, or Civil Liability

Posted on July 28th, 2020 at 2:49 PM
CFP Board Enforcement Process: No Challenges in CFP Board Proceeding to Criminal Convictions, Professional Discipline, or Civil Liability

From the Desk of Jim Eccleston at Eccleston Law LLC:

This is the sixth of several posts detailing the CFP Board enforcement process.  This post will focus on the rules regarding records which a Respondent cannot challenge in a CFP Board proceeding. 

In a CFP Board proceeding, there are certain records which a Respondent is not allowed to challenge. These types of records are those showing: criminal convictions, professional discipline, and civil liability.

In a CFP Board proceeding, a record from a court which shows that the Respondent  has been convicted in that court or that shows that Respondent was admitted into a program that defers or withholds entry of judgment of a conviction, is conclusive proof that the Respondent committed that crime. However, that record will not be treated as conclusive proof of that criminal conviction if criminal conviction is subject to appeal. 

Likewise, a record from a civil court that includes findings that Respondent violated a law, rule or regulation will be considered conclusive proof that Respondent committed that act. Again, if the court’s finding is subject to appeal, it will not be treated as conclusive proof. 

Finally, a record of professional discipline from a governmental agency, self-regulatory organization, or other regulatory authority will be conclusive proof that Respondent engaged in the conduct and violations found in that record.  If that record is under challenge in a civil court or before a regulatory body, it will not be considered conclusive proof.

CFP professionals who receive an inquiry or 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, eccleston law, hames eccleston, cfp board, cfp enforcement

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I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

David Y


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