CFP Board's Board of Directors Approves Provisions Allowing In-Person Hearings via Video Conference

Today, our Board of Directors approved amendments to CFP Board’s Disciplinary Rules and Procedures and Appeal Rules and Procedures that allow in-person hearings to be conducted by video conference during the COVID-19 pandemic.

The Disciplinary Rules and Procedures and Appeal Rules and Procedures previously permitted hearings to be conducted telephonically or in person. Given the social distancing and other health and safety guidelines issued for the COVID-19 pandemic, it is not currently feasible to conduct in-person hearings with all participants in one location. Accordingly, the Board has adopted these new provisions allowing in-person hearings via video conference. The language of the amendments is provided below, with the new provisions underlined:

Amendment to Article 10.1 of the Disciplinary Rules and Procedures, effective May 22, 2020:

10.1 NOTICE Not less than 30 calendar days before the date set for the hearing of a Complaint, notice of such hearing shall be given as provided in Article 18.2 to the Respondent, or to the Respondent’s counsel. The notice shall designate the date and place of the hearing. In view of the COVID-19 pandemic, any hearing that is conducted via video conference after May 22, 2020 shall satisfy any requirement of these Disciplinary Rules that the hearing be conducted in person.

Amendment to Article 5.2(c) of the Appeal Rules and Procedures, effective May 22, 2020:

5.2(c) Appearance. An Appellant appealing an Order issued by the DEC has the right to appear, either telephonically or in person, but must request such an appearance in the Petition for Appeal. In view of the COVID-19 pandemic, any hearing that is conducted via video conference after May 22, 2020 shall satisfy any requirement of these Appeals Rules and Procedures that the hearing be conducted in person. Failure to request an appearance in the Petition for Appeal will result in a waiver of the Appellant’s right to appear.

In the near future, the Board of Directors is expected to release a new Procedural Rules that will replace the Disciplinary Rules and Procedures and Appeal Rules and Procedures. The proposed Procedural Rules were released for public comment in November 2018 and March 2020. The final Procedural Rules are expected to include provisions granting the Disciplinary and Ethics Commission and the Appeals Committee the authority to conduct hearings either telephonically, via video conference, or in person.

CFP Board’s commitment to enforcing the standards for CFP® certification in a manner that is credible to the public and fair to those whose conduct CFP Board is evaluating is central to our work to uphold CFP® certification as the standard for financial planning. Thank you for your continued support of CFP® certification.