Enforcement
Comments on Proposed Revisions to Procedural Rules: Establishing an Appeals Commission
CFP Board accepted comments on a proposed amendment to its Procedural Rules to establish a new Appeals Commission. Comments were accepted from November 11 – December 14, 2021.
CFP Board issued for public comment a proposed amendment to its Procedural Rules that would create a new Appeals Commission to adjudicate appeal hearings. These hearings are currently adjudicated by the Board’s Code and Standards Enforcement Committee, which oversees CFP Board’s enforcement processes. If the proposed changes are adopted, the new Appeals Commission would have authority to issue CFP Board’s final decision when an individual appeals a final order of the Disciplinary and Ethics Commission (DEC) or an Administrative Order.
The proposal would establish an Appeals Commission comprising five members who currently do not sit on the Board. Members may include former Board directors, former DEC members, public members, individuals with regulatory experience, and CFP® professionals representing various business and compensation models.
This proposal is intended to help ensure that appeals continue to be adjudicated fairly, while allowing the Board of Directors to remain focused on organizational strategy, policymaking and monitoring of CFP Board’s enforcement processes.
Review a redlined version of the proposed revisions to the Procedural Rules
Submitted Comments
The public comment period for a proposed amendment to the Procedural Rules to establish a new Appeals Commission was November 11 – December 14, 2021. Comments that were received are posted below with the name of the commenter and date submitted.