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CFP Board Requests New Comments on Procedural Rules

By Ginger Szala March 26, 2020 ThinkAdvisor

The board has made some changes based on first-round comments.

The Certified Financial Planner Board of Standards is requesting comments on its new Procedural Rules, which had been revised from initial comments that wrapped up on Jan. 29, 2019. The deadline for new comments is April 24, 2020.

Highlights of some of the new proposed rules include:

  • Require periodic status notifications to individuals who file a complaint against a CFP.
  • Introduce additional procedural steps and explanations regarding bankruptcies of CFPs.
  • Place the burden of proof on a CFP in circumstances involving multiple allegations of misconduct. 


By Ginger Szala
March 26, 2020