CFP Board Enforcement Process: Settlement Procedure

Posted on August 3rd, 2020 at 4:11 PM
CFP Board Enforcement Process: Settlement Procedure

From the Desk of Jim Eccleston at Eccleston Law LLC:

This is the seventh of several posts detailing the CFP Board enforcement process.  This post will focus on the CFP Board’s settlement procedure.  

A Respondent and the CFP Board Counsel may agree to a settlement which resolves an investigation, complaint or petition. If a settlement offer is presented to a Respondent, it will stay the deadline for a Respondent to file an answer. A settlement offer will be presented to a Respondent as a proposed Consent Order from the CFP Board Counsel. 

When a proposed Consent Order is presented to a Respondent, it will include findings of fact and grounds for sanctions, any mitigating or aggravating factors, the sanction to be imposed and that Respondent is waiving his or her rights to a hearing and/or an appeal. 

Once the CFP Board Counsel and the Respondent have agreed to a settlement, it must be reviewed by a Settlement Review Panel, which will hold a Settlement Review Hearing. After reviewing the proposed Consent Order, the Settlement Review Panel will recommend that the CFP Board’s Disciplinary and Ethics Commission (“DEC”) accept the proposed Consent Order, reject the proposed Consent Order and propose a counteroffer, or reject the proposed consent order with no counteroffer.

After review by the Settlement Review Panel, the DEC will then review the proposed Consent Order and either accept, reject, or modify the Settlement Review Panel’s findings and recommendations.

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 Fraud, Compliance Protection, Breach of Fiduciary Duty, FINRA 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: cfp board, settlement investigation, settlement review panel, DEC, disciplinary and ethics commission

Return to Archive



I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.


May 17, 2024
Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his reporting of anti-investor sales tactics.

May 16, 2024
CFTC Investigates Banks for Potential Whistleblower Suppression

The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regarding potentially hindering whistleblowers from disclosing information, as reported by Bloomberg News.


May 15, 2024
NFA Issues Order Against Investments LLC

The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against Investments LLC, a former NFA Member commodity pool operator and forex firm, for violating multiple NFA compliance rules.