United States
Hong KongDuties owed to CFP Board: reporting, cooperating, complying
Part E requires CFP professionals to provide accurate information to CFP Board, report specified events, cooperate with investigations, comply with the terms of certification, and use the CFP marks correctly.
The obligations that run upward, to the certifying body rather than to a client.
Reporting
Specified events must be reported to CFP Board in writing, within a defined period after the event - thirty calendar days under the current Standards.
- Criminal charges other than minor traffic offenses, and convictions.
- Regulatory action by any government or self-regulatory body.
- Customer complaints alleging certain conduct, and civil actions.
- Bankruptcy filings.
- Internal firm reviews resulting in specified outcomes, including termination for cause.
- A finding by any professional body.
Charges, not only convictions. That is the detail candidates get wrong most often, and it applies before any finding is made against you.
Cooperating with an investigation
Respond to CFP Board requests, produce documents, and do not obstruct.
Failure to cooperate is itself a violation, and a distinct one. A planner who ignores correspondence has committed a separate breach on top of whatever the original allegation was - and in practice that is a common route to a serious sanction.
It is tempting to disengage from a process that feels hostile. Non-cooperation is a Standards violation in its own right, and it converts a defensible matter into an indefensible one.
Complying with the terms of certification
Continuing education, the annual certification fee, the ethics declaration, and any conditions attached to a prior sanction.
These are administrative rather than dramatic, and letting them lapse is still a violation.
Using the marks
The marks are used as adjectives after the name, with the certification mark symbol, and refer to an individual rather than to a firm. A firm is not a CFP® firm.
The requirement extends to email signatures, business cards, websites and social media, and misuse is a recurring cause of correspondence from CFP Board.
Providing accurate information
To CFP Board at all times, including on the initial application and on every renewal.
A false statement on an application is a serious matter in itself, and it is one of the routes to a permanent bar for someone who is not yet certified.
CFP® is a registered mark of Certified Financial Planner Board of Standards, Inc. We are not affiliated with, or endorsed by, CFP Board. Confirm any provision against the current Code and Standards at cfp.net before relying on it.
Common questions
What must be reported to CFP Board?
Criminal charges other than minor traffic offenses and convictions, regulatory action, certain customer complaints and civil actions, bankruptcy, specified internal firm review outcomes including termination for cause, and findings by professional bodies.
How long do you have to report?
Thirty calendar days after the event under the current Standards, in writing. Confirm the current period against cfp.net, since procedural details are updated from time to time.
Do you report charges or only convictions?
Charges as well. That is the detail candidates most often get wrong, and the obligation applies before any finding is made.
What happens if you ignore an investigation?
Failure to cooperate is a violation in its own right, distinct from the original allegation, and it is a common route to a serious sanction.
How must the CFP marks be used?
As adjectives following the individual's name, with the certification mark symbol, referring to a person rather than a firm - including in email signatures, on websites and on social media.