CFP Board opens rule changes to public comment

A new rule to change the duties of its Disciplinary and Ethics Commission is among several revisions to The Certified Financial Planner Board of Standards Inc.’s disciplinary rules and procedures.
The disciplinary rules, which have been published for public comment, outline the Washington-based CFP Board’s procedures for enforcing both its code of ethics and professional responsibilities, and its rules of conduct and financial planning practice standards, which establish ethical standards of conduct for CFP certificants.
Some of the changes include altering the language of statements related to the disciplinary and ethics commission’s duties regarding the selection of prospective commission members and leadership, evaluation of hearing panel volunteers and communication with the board of directors.
Additionally, the CFP Board is proposing to change the duties of its chief executive regarding appointments to the commission, selection of hearing panel volunteers and oversight of the commission.
It also wants to revise the duties of its legal counsel regarding the disciplinary-hearing process, including the definition of the separate roles of CFP Board counsel and advisory counsel.
Individuals or groups wishing to comment on the proposed changes are being asked to submit written comments by e-mailing the CFP Board by 5 p.m. Feb 2.

Related Topics: Certified Financial Planner Board Of Standards Inc. (CFP Board)