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CFP Board’s new Code of Ethics and Standards of Conduct expands a CFP® professional’s Duty to Report
information to CFP Board and Duty to Cooperate with CFP Board investigations. These duties are critical
features of CFP® certification that enable CFP Board to uphold the high standards of competency and ethics
set forth in the Code and Standards and maintain the integrity of the CFP® certification marks.
DUTY TO REPORT
The Duty to Report information to CFP Board applies both to the initiation and the conclusion of the
reportable matter that concerns a CFP® professional’s conduct, as set forth below. A CFP® professional must
provide written notice to CFP Board within thirty (30) calendar days of both the initiation and conclusion of
the reportable matter, and include a narrative statement that accurately and completely describes the material
facts and the outcome or status of the reportable matter. CFP Board has established an online reporting form
that is located at CFP.net/ethics/reporting. Thereafter, a CFP® professional also must complete the CFP Board
Ethics Declaration when renewing his or her certification. A CFP® professional may seek guidance on the Duty
to Report by contacting compliance@cfpboard.org.
Bolded terms used below are defined in the attached Appendix.
General Category Standard E.3. of the Code and Standards: The Duty to Report Applies When
the CFP® Professional, or an Entity Over Which the CFP® professional Was
a Control Person, Has:
Felonies &
Misdemeanors
Been charged with, convicted of, or admitted into a program that defers or withholds
the entry of a judgment or conviction for, a Felony or Relevant Misdemeanor.
Initiation of Regulatory
Investigations/Actions
Been named as a subject of, or whose conduct is mentioned adversely in, a
Regulatory Investigation or Regulatory Action alleging failure to comply with the
laws, rules, or regulations governing Professional Services.
Findings in Regulatory
Action
Had conduct mentioned adversely in a Finding in a Regulatory Action involving
failure to comply with the laws, rules, or regulations governing Professional Services
(except a Regulatory Action involving a Minor Rule Violation in a Regulatory Action
brought by a self-regulatory organization).
Initiation of a Lawsuit
or Arbitration
Alleging Professional
Misconduct
Had conduct mentioned adversely in a Civil Action alleging failure to comply with the
laws, rules, or regulations governing Professional Services.
Resolutions of
Lawsuit or Arbitration
Alleging Professional
Misconduct
Become aware of an adverse arbitration award or civil judgment, or a settlement
agreement, in a Civil Action alleging failure to comply with the laws, rules, or
regulations governing Professional Services, where the conduct of the CFP®
professional, or an entity over which the CFP® professional was a Control Person, was
mentioned adversely, other than a settlement for an amount less than $15,000.
Initiation of Lawsuit or
Arbitration Alleging
Dishonest Conduct
Had conduct mentioned adversely in a Civil Action alleging fraud, theft,
misrepresentation, or other dishonest conduct.
Findings of Dishonest
Conduct
Been the subject of a Finding of fraud, theft, misrepresentation, or other dishonest
conduct in a Regulatory Action or Civil Action.
Adverse Award or
Judgment
Become aware of an adverse arbitration award or civil judgment, or a settlement
agreement in a Civil Action alleging fraud, theft, misrepresentation, or other dishonest
conduct, where the conduct of the CFP® professional, or an entity over which the CFP®
professional was a Control Person, was mentioned adversely.