The Financial Industry Regulatory Authority has barred a former securities representative and broker in a case that involved alleged misconduct on a financial planner exam, ThinkAdvisor reports.
FINRA detailed its action against Brandon Self in a letter of acceptance, waiver and consent that was released recently. Self, who worked for Northwestern Mutual Investment Services, was initially barred by the Certified Financial Planner Board of Standards in May 2022.
The alleged misconduct took place on a CFP exam in March 2021. The CFP Board said Self took part in a GroupMe chat group in which he sought assistance on five occasions from participants in the chat group who already taken the exam. He was reported to have asked for information about exam questions the group members had observed on the exam. By being able to study topics based on that information, the board said Self knowingly gained an advantage over others who were taking the test.
The CFP board said Self also failed to file an answer to its complaint within 30 days of the date of service as required under procedural rules. He was permanently barred from applying for or obtaining the CFP certification marks.
In its AWC letter, FINRA said that Self failed to cooperate with its own investigation into the CFP Board’s decision, violating Rule 8210 that requires members to provide information orally, in writing, or electronically on any matter involved in an investigation. In addition he was found to have violated FINRA Rule 2010, requiring members to observe high standards of commercial honor and just and equitable principles of trade.
Self did not admit or deny the findings but consented to being barred from associating with any FINRA member in all capacities. An attorney for Self said the ex-broker denied engaging in any misconduct on the CFP exam.
Lewitas Hyman PC represents advisors, brokers and other financial professionals in all matters involving the CFP Board, including CFP Board investigations. Our attorneys have helped clients navigate these issues and can assist if you are faced with a CFP Board investigation. For more information relating to CFP Board investigations and discipline or other matters, contact Lewitas Hyman at (844) 651-2643 or through our online contact form for a free consultation.