Update on Recent Proposals to Amend CE Requirements, Disciplinary Rules, Appeal Rules

At its November meeting, CFP Board’s Board of Directors (Board) reviewed three proposals that were released for public comment earlier in 2012. The Board’s decisions regarding each proposal are outlined below.

The Board’s decision on each proposal followed the careful review of comments received from our stakeholders. CFP Board appreciates the thoughtful and constructive feedback many in our CFP® professional community provided on the proposed changes.

No Changes to CE Requirements

The Board determined to make no changes to the CE requirements for CFP® certification at this time. The Board passed a resolution calling on the Council on Education (Council) and staff at CFP Board to “study and develop recommendations on the appropriate level of CE to maintain CFP® professionals’ competency for the benefit of the public.” 

CFP Board staff and the Council are now in the process of conducting further research into current practices in CE and addressing comments received by stakeholders.  Additional public comments will be sought when proposed changes are developed.

Read comments received by CFP Board (PDF, 3,073 KB)

Amendments to Disciplinary Rules Adopted, Effective January 1, 2013

The Board adopted amendments to CFP Board’s Disciplinary Rules with an effective date of January 1, 2013. The amendments to the Disciplinary Rules clarify ambiguities, eliminate inconsistencies and ensure that CFP Board’s disciplinary process is fair and credible to all participants. Through its Disciplinary Rules CFP Board enforces the Code of Ethics and Professional Responsibility, Rules of Conduct and Financial Planning Practice Standards and establishes a process for applying the Standards of Professional Conduct to actual professional activities. 

Read the full text of CFP Board's Disciplinary Rules and Procedures (PDF, 109KB)
Read comments received by CFP Board (PDF, 61KB)

Amendments to Appeal Rules Adopted, Effective January 1, 2013

The Board adopted amendments to CFP Board’s Appeal Rules with an effective date of January 1, 2013. The amendments streamline the appeal process, clarify the “clearly erroneous” standard of review and ensure that CFP Board’s appeal process is fair and credible to all participants. The Appeal Rules govern the procedure of appeals from orders of CFP Board’s Disciplinary and Ethics Commission and appeals from Administrative Orders issued by CFP Board. 

Read the full text of CFP Board's Appeal Rules and Procedures (PDF, 73KB)
Read comments received by CFP Board (PDF, 56KB)