The Certified Financial Planner Board of Standards Inc. has imposed an interim suspension of the CFP certification of Gregory K. Womack, whose Womack Investment Advisers is based in Edmond, Oklahoma.
In August, the Securities and Exchange Commission filed charges against Womack and settled with him and his firm over findings that he engaged in fraud in connection with the sale of unregistered securities of interests in conservation easement investments.
As part of the settlement, Womack agreed to pay disgorgement of $236,739, plus $48,170 in prejudgment interest and a civil penalty of $145,030. His firm is liable for disgorgement of $160,000, plus $32,609 in interest and a civil penalty of $517,955.
The CFP Board’s interim suspension means Womack loses his right to use the CFP mark pending a completed investigation and possible further disciplinary proceedings.
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