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Daily Compliance News - July 24, 2021 - The Domestic Corruption Edition | Thomas Fox

Daily Compliance News - July 24, 2021 - The Domestic Corruption Edition | Thomas Fox
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What a former SEC executive has learned about CFP Board s enforcement program

Independent Task Force on Enforcement called for CFP Board to make important reforms. The most significant recommendation was that “CFP Board should substantially increase the resources devoted to ensuring that its enforcement program is reasonably designed to achieve an appropriate level of compliance by CFP certificants with CFP [Board’s] standards of conduct.” As an outsider to the organization, I came into the role aware of the public dialogue. I didn’t know what to expect from the staff, the CEO or the board of directors. What I found was an organization committed at all levels to a well-funded, first-class enforcement program. I also found that CFP Board had already undertaken much of the work that it needed to get there.

Tom Sporkin

Tom Sporkin Managing Director, Enforcement Tom Sporkin serves as Managing Director, Enforcement at CFP Board, the professional body for personal financial planners in the U.S. He leads a team of attorneys and legal staff in the detection, investigation and prosecution activities. Tom possesses decades of experience in enforcement and regulatory compliance, including 20 years in the SEC’s Division of Enforcement  where he served in various  leadership roles including co-managing the Office of Internet Enforcement, and, in the aftermath of the financial crisis, establishing and managing the Office of Market Intelligence, which included the Office of Market Surveillance and the SEC’s Whistleblower program.

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