CFP Board Imposes Interim Suspension on Ken A. Balser

Certified Financial Planner Board of Standards, Inc. (CFP Board) announced today that it has imposed an automatic interim suspension of Ken A. Balser’s CFP® certification, effective August 24, 2017. 

CFP Board imposed an automatic interim suspension following Mr. Balser’s consent to a bar from associating in any capacity with any Financial Industry Regulatory Authority, Inc. (FINRA) member.  Mr. Balser was barred by FINRA after he failed to produce requested information and appear for his on-the-record testimony during the course of an investigation into allegations that Mr. Balser engaged in private securities transactions. By refusing to respond to FINRA’s request for documents and information and to appear for on-the-record testimony as requested pursuant to FINRA Rules 8210, Mr. Balser violated FINRA Rule 8210 and 2010. 

Pursuant to Article 5.7 of CFP Board’s Disciplinary Rules, “[a]n interim suspension shall immediately be issued without a hearing when CFP Board Counsel receives evidence of a conviction or a professional discipline in accordance with Article 13.1 for…revocation of a financial professional license (securities, insurance, accounting or bank-related license).” Under the interim suspension order, Mr. Balser’s right to use the CFP® certification marks is suspended pending CFP Board’s completed investigation and possible further disciplinary proceedings.

CFP Board’s enforcement process is a critical consumer protection. CFP® professionals agree to abide by CFP Board’s Standards of Professional Conduct (Standards), which includes the Code of Ethics and Professional Responsibility (Code of Ethics), Rules of Conduct and Financial Planning Practice Standards (Practice Standards). The Standards set forth the ethical standards for financial planners who hold the CFP® certification.

CFP Board enforces its ethical standards by investigating incidents of alleged unethical behavior by CFP® professionals. In cases where violations are found, the Disciplinary and Ethics Commission (Commission) may impose discipline ranging from a private censure or public letter of admonition to the suspension or revocation of an individual’s right to use the CFP® marks. CFP Board’s Disciplinary Rules and Procedures (Disciplinary Rules) set forth the process for investigating matters and imposing discipline where violations have been found.