CFP Board Censures Improper CFP® Certificant Conduct

WASHINGTON, DC, November 4, 2009—Certified Financial Planner Board of Standards, Inc. announces that it has issued an interim suspension to Brian P. Troy of Keller, Texas, suspending his right to use the CFP® certification marks, effective immediately.

In October 2009, CFP Board’s Disciplinary and Ethics Commission issued Mr. Troy an Interim Suspension Order suspending his right to use the CFP® certification marks. CFP Board initiated interim suspension proceedings after discovering that Mr. Troy was indicted on 22 felony counts of securing execution of a document by deception and 21 felony counts of misapplication of fiduciary property. From 2006 through 2008, Mr. Troy is alleged to have collected commissions totaling more than $250,000 by illegally transferring approximately $9 million from college employees’ state retirement plans to private plans with American International Group. Mr. Troy failed to respond to CFP Board’s Order to Show Cause within 20 calendar days, as required by CFP Board’s Disciplinary Rules and Procedures. As a result, the allegations set forth in the Order to Show Cause were deemed admitted, and the Interim Suspension Order was automatically issued, effective October 27, 2009. Under the Interim Suspension Order, Mr. Troy’s right to use the CFP® certification marks is suspended pending CFP Board’s completed investigation.

Public disciplinary actions taken by CFP Board, in order of increasing severity, include letter of admonition, suspension, and permanent revocation. Consumers may check on any planner’s disciplinary history and certification status with CFP Board at www.CFP.net.

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