A new commission to adjudicate appeals by financial planners has been established by the Certified Financial Planner Board of Standards, the board announced last week in a news release.
The Appeals Commission will have sole authority to adjudicate appeal hearings involving advisors who have been disciplined. The CFP Board noted that there will be no change in the procedures and standard of review for adjudicating appeals. But the newly created commission will take over responsibility for adjudicating the appeal hearings which previously had been held by the Board’s Code and Standards Enforcement Committee.
Going forward, when an individual appeals a final order of the Disciplinary and Ethics Commission or an Administrative Order, the final decision of the CFP Board will be issued by the Appeals Commission.
The five inaugural members of the commission were also announced:
- Denise (Denny) Voigt Crawford was named the commission chair. She is a former member of CFP Board’s board of directors. a four-year member and three-year chair of the board’s Code and Standards Enforcement Committee and former chair of the board’s Independent Task Force on Enforcement.
- Shelly-Ann Eweka, CFP, is chair of the board’s Sanctions and Fitness Commission and a former chair of the CFP Board’s Disciplinary and Ethics Commission.
- Susan MacMichael John, CFP, is a former chair of the board of directors of CFP Board and a two-term chair of the National Association of Personal Financial Advisors.
- Gary Strickland, Esq., is a member of the CFP Board’s Disciplinary and Ethics Commission and is a partner at Warner Angle Hallam Jackson & Formanek in Phoenix.
- Jeffrey Weekes, CFP, is a member of the CFP Board’s Sanctions and Fitness Commission and a former member of the board’s Disciplinary and Ethics Commission.
“CFP Board is pleased to welcome Denny, Shelly-Ann, Susan, Gary and Jeffrey as the inaugural members of the Appeals Commission,” said CFP Board CEO Kevin R. Keller, CAE. “Their extensive professional experience across diverse business segments and their commitment to CFP Board’s high ethical standards will help ensure that our appeals process remains credible to the public and fair to those whose conduct is being evaluated.”
The commission is made up of five members who do not currently sit on the CFP Board’s Board of Directors. They will begin their term of service on February 1.
Financial professionals with the Certified Financial Planner (CFP) designation are required to uphold the high standards outlined in the CFP Board’s Code of Ethics and Standards of Conduct. If you receive a Notice of Investigation from the CFP Board’s Enforcement Counsel, you should immediately hire experienced counsel to guide you through the process. The CFP Board investigation attorneys of Lewitas Hyman PC represents advisors, brokers and other financial professionals in all matters involving the CFP Board. For more information relating to CFP Board investigations and discipline or other matters, contact us at (312) 291-4600 or through our online contact form for a free consultation.