CFP® Board Updates

On May 29, 2020, the CFP Board announced the adoption of new Procedural Rules for the enforcement of the ethical and practical standards for CFP® Professionals. These new procedural rules become effective on June 30, 2020, when the CFP Board begins enforcement of the new Code of Ethics and Standards of Conduct (Code and Standards).

Click HERE for more information from the board.

Some of the important updates include:

  • Clarifying who may review confidential information
  • Requiring the CFP Board provide periodic updates to individuals who file a complaint against a CFP® Professional
  • Placing a time limitation on when CFP Board staff may issue a Notice of Investigation, which ordinarily will be seven years after the alleged violation, subject to certain exceptions, and placing a limit on when CFP Board staff may issue a complaint after commencing an investigation.

A redline version of the new Procedural Rules can be found at the link below, for those who would like to both view the final rules and the changes.