CFP Board Issues 17 Sanctions in its Recent Round of Disciplinary Actions

Posted on July 21st, 2022 at 12:55 PM
CFP Board Issues 17 Sanctions in its Recent Round of Disciplinary Actions

The Certified Financial Planner Board of Standards (CFP Board) recently issued sanctions against 17 CFP professionals for a host of violations, including attempting to cheat on the CFP exam, failing to pay taxes, and stealing reward points from an employer’s credit card. 

The CFP Board imposes sanctions for violations of the board’s code of ethics in the form of private cautionary letters, public censure, suspension from use of the mark, as well as permanent revocation of the CFP certification. 

In one instance, the CFP Board issued a permanent bar against a Colorado-based advisor, Brandon Self, for allegedly requesting information about CFP exam questions in an online chat group. Self “knowingly gained an advantage over other March 2021 CFP Exam-takers when he studied topics based on the information he received from those individuals who had taken the March 2021 CFP Exam”, according to the CFP Board. 

Additionally, the CFP Board permanently revoked the certification of J.C. Morrow, who allegedly failed to pay federal income taxes in 2015, 2016, and 2017. The CFP Board further revoked the certification of a Rhode Island-based advisor, Robert Sclama, for failing to cooperate with the CFP Board’s investigation into pending civil litigation in which two clients alleged fraud, negligence, breach of contract, and professional malpractice. In many of the recent CFP Board sanctions, the CFP certificate holders failed to respond to a CFP Board complaint within an allotted amount of time. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters, including those matters before the CFP Board.

Tags: eccleston, eccleston law, CFP Board

Return to Archive

TESTIMONIALS

Previous
Next

 


It was really fun seeing you fight for us. You have an amazing way of thinking out of the box.


 

Beth M.

LATEST NEWS AND ARTICLES

July 11, 2025
FINRA Advances Proposal to Allow Limited Use of Performance Projections

The Financial Industry Regulatory Authority (“FINRA”) is moving forward with a proposal that would give broker-dealers limited ability to market performance projections and targeted returns under specific conditions.

July 10, 2025
SEC Permanently Bars Brite Advisors USA Over Custody Rule Violations and Undisclosed Conflicts

The SEC has permanently barred Brite Advisors USA from operating as an investment adviser, citing serious custody rule violations and undisclosed conflicts of interest tied to its offshore affiliate, as reported by Financial Advisor News.

July 9, 2025
UBS Confirms Data Breach After Cyberattack on External Vendor

UBS Group AG has confirmed that a cyberattack on one of its third-party suppliers resulted in stolen company information, though no client data was compromised.