CFP Board suspends Tye Williams after Finra bar

Interim suspension prevents use of CFP mark pending investigation

Sep 15, 2017 @ 12:58 pm

By InvestmentNews

The Certified Financial Planner Board of Standards has imposed an automatic interim suspension of Tye C. Williams' CFP certification following his consent to an industry bar from Finra.

Mr. Williams, who was associated with Next Financial Group in Frisco, Tex., was barred by the Financial Industry Regulatory Authority after he failed to produce requested documents and information in connection to an investigation into a customer complaint.

The complaint alleged that from 2004 to 2014 Mr. Williams converted over $1 million from the customers' accounts, made unsuitable investment recommendations, engaged in unauthorized transactions and mismanaged their assets.

Based on its disciplinary rules, the CFP Board issues an interim suspension without a hearing when the board's attorneys receive evidence of a conviction or a professional discipline. Under the interim suspension order, Mr. Williams' right to use the CFP certification mark is suspended pending an investigation and possible further disciplinary proceedings by the CFP Board.

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