CFP Board Self-Reporting Requirements Greatly Expanded

Posted on June 17th, 2020 at 3:51 PM
CFP Board Self-Reporting Requirements Greatly Expanded

From the Desk of Jim Eccleston at Eccleston Law LLC:

This is the first in a 3-part series addressing the CFP Board’s new self-reporting requirements that went into effect on October 1, 2019. Among the changes in the new rule is an expansion of the self-reporting requirements for CFP professionals. Like the old rule, the new rule requires a CFP professional to self-report to the CFP board within 30 calendar days. 

Under the old rule, a CFP Professional was required to self-report if they had been convicted of a crime or if they had been suspended, revoked or barred by a professional disciplinary organization.  The new rule lists out a number of new events that now require a CFP professional to report to the CFP Board. 

The new rule requires self-reporting of a number of events, including a personal bankruptcy, being terminated for cause, or being the subject of a civil action or an investigation by a regulatory organization.  However, the new rule also requires self-reporting if a CFP professional’s “conduct is mentioned adversely in” a civil action, regulatory investigation or regulatory action. 

If you are a CFP professional, contact the professionals at Eccleston Law to discuss any questions you have about your self-reporting requirements.

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, self-reporting

Return to Archive



We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele


September 29, 2023
Traders Engage in Boom-or-Bust Options in Stock Market

The stock options market is experiencing a surge in activity, as many individual investors are eagerly engaging in trades that expire within hours or days to take advantage of the volatile market swings.

September 28, 2023
Former LPL Affiliate Compliance Chief Suspended by FINRA for Unauthorized $1 Million Transfer

The Financial Industry Regulatory Authority (FINRA) fined and suspended Jeffrey K. Kirkpatrick, a former chief compliance officer at a registered investment advisor previously affiliated with LPL.

September 27, 2023
Former Creative Planning Staff File Lawsuit Challenging Non-Compete Agreements

Four former employees of Creative Planning have filed a lawsuit, alleging that their non-compete agreements with the firm unlawfully restrict their ability to work in the industry.