CFP Board Forms New Commission to Review Sanction Guidelines and Fitness Standards
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WASHINGTON, Feb. 1, 2021 /PRNewswire/ Certified Financial Planner Board of Standards, Inc. (CFP Board) announced today that it has formed a new 15-member Commission on Sanctions and Fitness. This new Commission will review and recommend changes to CFP Board s
Sanction Guidelines and
Fitness Standards ).
Code of Ethics and Standards of Conduct. The
Fitness Standards apply to those seeking CFP
® certification, while the
Sanction Guidelines apply to those who are certified. This new commission is fundamental to CFP Board s ongoing work to strengthen the enforcement processes for our
CFP Board Reviews Sanction Guidelines The 15-member Commission on Sanctions and Fitness will also look to revise the standards for those who are hoping for CFP certification.
A new Certified Financial Planner Board of Standards commission will reexamine the guidelines the board uses to accept applicants for the CFP designation as well as how CFP professionals should be sanctioned when failing to comply with its code of conduct.
The 15-member Commission on Sanctions and Fitness includes investor protection advocates, state securities regulators, and financial and wealth planning executives from across the industry. CFP Board CEO Kevin Keller called the new commission “fundamental” in strengthening enforcement protocols for implementing its Code of Ethics and Standards of Conduct, which went into effect last June after a multiyear development process.