WASHINGTON, August 12, 2022 /PRNewswire/ — Certified Financial Planner Board of Standards, Inc. (CFP Board) announced that it has imposed a temporary suspension of CFP® certification against Jason Cookewhich is effective from August 5, 2022.
Turned on July 11, 2022, the CFP Board filed a Motion for Provisional Suspension Order pursuant to Article 2.1.a.1 of the CFP Board Rules of Procedure requesting that the Disciplinary and Ethics Commission (DEC) issue A provisional suspension order against Mr. Cooke. Turned on April 28, 2022Mr. Cooke was arrested and charged with five counts of trafficking in child pornography in the County of Kent (Delaware) Court of Common Pleas (file no. 2204014557). His company fired him as a result of these charges, and press reports described the charges. A DEC hearing panel reviewed the matter August 4, 2022and then approved the Motion and issued the Temporary Suspension Order on August 5, 2022, after determining that CFP Board Counsel demonstrated by a preponderance of the evidence that the conduct of Mr. Cooke poses a significant threat to the public or significantly affects the reputation of the profession or the CFP® certification marks. By virtue of the Provisional Suspension Order, the right of Mr. Cooke’s use of the CFP® Marks is suspended pending the CFP Board’s full investigation and possible subsequent disciplinary proceedings.
A provisional suspension is a suspension of a CFP® professional’s certification and trademark license pending the proceeding. A respondent subject to a temporary suspension order must not use the CFP® certification marks or state or suggest that the respondent is a CFP® professional while the temporary suspension order is in effect. An interim suspension order is a temporary sanction and does not prevent the CFP Board from imposing a final sanction. An interim suspension order will remain in effect until the DEC or, if an appeal is filed, the CFP Board’s Appeals Committee, issues a final order. The CFP Board attorney may vacate an order of temporary suspension if a criminal conviction, civil liability, or professional discipline is vacated or vacated or if the respondent provides sufficient evidence that the respondent was not subject to a criminal conviction, civil liability or professional discipline. A DEC hearing panel may issue an order to vacate an interim stay order upon a successful petition to vacate an interim stay order by the respondent.
The basis for this decision can also be found on the CFP Board website at CFP.net/verify. On this website, the CFP Board provides the public with:
The ability to check anyone’s CFP Board disciplinary history and CFP® certification status. Links to other sources of information about CFP® professionals that may be more recent or that may contain information that has not resulted in CFP Board discipline and that does not appear on the CFP Board website. This information may include customer disputes, disciplinary actions taken by a regulator or an employer, certain criminal matters, and certain financial matters (such as bankruptcy proceedings and unpaid judgments or liens). Links to the Financial Industry Regulatory Authority Inc.’s BrokerCheck databases. (FINRA) and the US Securities and Exchange Commission’s (SEC) investment adviser public disclosure databases for persons subject to FINRA or SEC supervision.
Implementation process of the CFP Board
As part of their certification, CFP® professionals pledge to the CFP Board to comply with the CFP Board Code of ethics and rules of conduct (Code and rules) or its predecessor, the Rules of professional conduct (standards), which included the Code of Ethics and Professional Responsibility, the Standards of Conduct and the Financial Planning Standards of Practice. CFP board Rules of procedure establish the process for investigating matters and imposing sanctions where violations have been found.
The CFP Board enforces its ethical standards by investigating alleged violations and, when there is probable cause to believe that there are grounds for sanction, files a complaint containing the alleged violations with the CFP Board’s DEC. The DEC meets at least six times a year to review any matter in which the CFP Board has alleged that a CFP® professional has violated the Code and Standards or their predecessor standards. The DEC operates in accordance with the Rules of Procedure and reviews all matters on a case-by-case basis, taking into account the specific details of an individual case. If the DEC determines that grounds for a penalty exist, it may impose a penalty. DEC orders may be appealed by a CFP® practitioner or a CFP Board in accordance with the Rules of Procedure.
In certain circumstances, such as when a CFP® professional is in default due to failure to acknowledge receipt of a notice of investigation or to file a response, CFP Board staff must issue an order administrative suspension, temporary admission, revocation or permanent advocacy. Administrative orders are also subject to appeal.
More information about the CFP Board’s enforcement process can be found at CFP.net/ethics/enforcement.
ABOUT CFP BOARD
Certified Financial Planner Board of Standards, Inc. is the professional body for personal financial planners in the U.S. The CFP Board sets standards for financial planning and administers the prestigious CFP® certification, one of the most respected certifications in financial services, so that the public has access to and benefits from a financial competent and ethical. CFP Board, along with its Center for Financial Planning, is committed to increasing public awareness of CFP® certification and access to a diverse, ethical and competent financial planning workforce. Widely recognized by the public, advisors and businesses as the standard for financial planning, the CFP® certification is held by nearly 93,000 people in the united states.
SOURCE Certified Financial Planner Board of Standards, Inc.
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