The Certified Financial Planner Board of Standards has imposed an interim suspension on a Pennsylvania financial advisor.
The CFP Board announced that Kenwyn J. Belkot had his right to use the CFP® certification marks suspended effective as of February 1, 2023.
The Financial Industry Regulatory Authority had suspended Belkot in November 2022 under Rule 9553 after he failed to respond to FINRA’s requests for information. When he failed to request termination of the suspension within three months of being notified, FINRA permanently barred Belkot from associating with any FINRA member in any capacity on January 17, 2023.
The CFP Board said it imposed its interim suspension order on Belkot after receiving evidence that he had been permanently barred by FINRA. Under the order, his right to use the CFP® certification marks is suspended pending the CFP Board’s completed investigation and possible further disciplinary proceedings. The board can vacate the order if the professional discipline is vacated or reversed, or Belkot provides sufficient evidence indicating he was not the subject of the professional discipline.
As part of their certification, CFP® professionals make a commitment to abide by the CFP Board’s Code of Ethics and Standards of Conduct. Any alleged violations are investigated by the board and when there is probable cause to believe there are grounds for sanction, a complaint is filed with the board’s Disciplinary and Ethics Commission. If the Commission determines there are grounds for sanction, then it may impose a sanction. Members of the public can view any individual’s CFP Board disciplinary history and CFP certification status by checking CFP.net/verify.
Hyman Cotter PC represents advisors, brokers and other financial professionals in all matters involving the CFP Board, including CFP Board investigations. Headquartered in Chicago, our securities attorneys represent clients nationwide. For more information relating to CFP Board investigations and discipline or other matters, contact Hyman Cotter PC at 312-291-4600 or through our online contact form for a free consultation.
