CFP Board hits three advisers with suspension

CFP Board hits three advisers with suspension
One adviser faces charges of dealing in child pornography, according to the Certified Financial Planner Board of Standards Inc.
AUG 12, 2022

Three financial advisers last week lost their ability to use their certified financial planner designation, at least in the short term, after two were recently charged with felonies and one faces civil fraud charges from the Securities and Exchange Commission.

The suspensions of the three advisers, Christopher J. Asher of Annapolis, Maryland, Vincent J. Camarda of Amityville, New York, and Jason Cooke of Clayton, Delaware, were all effective last Friday, according to a statement Friday morning from the Certified Financial Planner Board of Standards Inc.

The matters date back a few months. Under the interim suspension, the three can’t use the CFP mark and designation. The cases are pending the CFP Board’s completed investigation and possible further disciplinary actions.

In April, Cooke was arrested and charged with five counts of felony dealing in child pornography in Delaware State Court, according to the CFP Board. He could not be reached to comment.

In May, Asher allegedly struck and killed a construction worker with his car while under the influence. He was arrested and charged three felony counts, including felony homicide by motor vehicle while under the influence of alcohol, according to the CFP Board. He was also charged with misdemeanor criminally negligent manslaughter by vehicle in Maryland State Court.

Asher did not return a call Friday morning to comment.

In June, the SEC filed a complaint against Camarda and two co-defendants in federal court in New York concerning a securities offering that raised more than $75 million from over 200 investors.

The SEC’s complaint alleges that Camarda recommended and sold the securities of an issuer without disclosing to the investors the fact that he and his company were in debt to that issuer and thus had a conflict of interest, according to the CFP Board. The SEC alleges that this operated as a fraud on those investors.

Camarda was not available to comment on Friday.

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