CFP Board Revises Sanction Guidelines and Fitness Standards

Posted on September 24th, 2024 at 11:16 PM
CFP Board Revises Sanction Guidelines and Fitness Standards

From the desk of Jim Eccleston at Eccleston Law

The CFP Board has finalized revisions to its Sanction Guidelines and Fitness Standards.

According to FinancialPlanning, key revisions include:

1. Conduct Categories: An updated inventory of 52 conduct categories that align with the CFP Board's Code and Standards.
  
2. Aggravating and Mitigating Factors: A new list of 25 general factors that describe when certain conduct should either aggravate (raise the sanction) or mitigate (lower the sanction).
 
3. Specific Factors: An expanded list of aggravating and mitigating factors tied to specific conduct categories.
 
4. Fitness Evaluation Framework: A revised framework for evaluating fitness that determines when an applicant is permanently barred, currently ineligible, or required to file a Petition for Fitness with the Disciplinary and Ethics Commission.
 
5. Conduct Description: A detailed description of conduct that will result in a permanent bar, ineligibility, or the need for a Petition for Fitness.
 
6. Uniform Sanction Guidelines: Ensuring that both applicants and CFP® professionals face similar consequences for misconduct.
 
7. Public Notice: Introducing a new public notice if the CFP Board grants certification to an applicant whose conduct would have resulted in a public censure if that applicant already had been a CFP® professional.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

I am grateful to have found an outstanding law firm that specializes in securities matters. My lawyers were extremely knowledgeable, diligent, and are skilled litigators. No stone was left upturned. As a result of their experience and tenacity, the arbitration proceeding was dismissed in my favor.

Michael E.

LATEST NEWS AND ARTICLES

February 13, 2026
Cetera Fined $1.1 Million Over Supervisory and AML Deficiencies

The Financial Industry Regulatory Authority (FINRA) has censured and fined Cetera Financial Group $1.1 million after identifying supervisory system and anti-money laundering (AML) failures across several subsidiary broker-dealers.

February 12, 2026
CFTC Signals New Rulemaking for Prediction Markets and Crypto Oversight

The Commodity Futures Trading Commission (CFTC) plans to develop new regulations governing the growing prediction markets industry, Chairman Michael Selig announced, signaling a shift in regulatory strategy.

February 11, 2026
Ameriprise Advisor Phishing Incident Potentially Exposes Client Data

A phishing incident involving an Ameriprise Financial advisor potentially exposed the personal information of hundreds of clients, according to a disclosure posted by the Maine Attorney General’s office.