Notice of Arbitration Decisions

CFP Board reports on the result of arbitrations and, without disclosing the Respondent's identity, states who prevailed in the arbitration and identifies the nature of the dispute, including facts relating to the arbitration.

CFP Board was the prevailing party in three arbitrations.

CFP Board's Disciplinary and Ethics Commission (DEC) issued Respondent a public censure upon a finding that Respondent had failed to timely pay taxes to the IRS, resulting in the IRS filing three federal tax liens against Respondent totaling more than $250,000, and required Respondent to certify Respondent's progress toward resolution of the tax liens. CFP Board's Code and Standards Enforcement Committee affirmed the sanction. Respondent then filed an arbitration. The arbitration panel of judges found that CFP Board followed its rules and did not deny Respondent fundamental fairness or procedural unfairness, and that the DEC was not arbitrary or capricious in issuing a public sanction.

CFP Board's Disciplinary and Ethics Commission (DEC) issued Respondent a three-year suspension for failing to pay over $1 million in taxes for six years, resulting in four tax liens. CFP Board's Appeals Commission reduced the DEC's sanction to a suspension of one year and one day. Respondent then filed an arbitration. The arbitration panel of judges found that CFP Board followed the Procedural Rules and that there was nothing unfair about the process or the result. According to the panel, Respondent did not show any abuse of discretion or any violation of the rules Respondent agreed would govern Respondent's conduct.

CFP Board's Disciplinary and Ethics Commission (DEC) issued Respondent a suspension of 30 months for breaching Respondent's fiduciary duty. Respondent improperly recommended that a client invest in illiquid products, failed to plan for the potential tax consequences of the client's sale of inherited assets and failed to properly plan for the client's cash flow needs. CFP Board's Appeals Commission affirmed the DEC's decision. CFP Board filed an arbitration. The arbitration panel of judges issued a consent award declaring that CFP Board may issue a public sanction and publish its discipline of Respondent.