Chair of CFP Board’s Board of Directors Resigns

[mickeyd]

This cryptic article about allegations of violations of our Standards of Professional Conduct regarding resignations of big mucky mucks on the CFP Board has me curious.

The directors of the CFP Board have announced the resignation of Chair Alan Goldfarb, CFP, effective immediately. He will be replaced by 2012 Chair elect Nancy Kistner, CFP.


The board also announced the immediate resignation of two members of the Disciplinary and Ethics Commission (DEC). Coming all at once, the trio of resignations could become an embarrassment for the CFP Board, which has held itself out to the public as both a professional regulatory organization and a potential self-regulatory organization.

According to Kistner, the resignations were “…due to allegations of violations of our Standards of Professional Conduct.”

Chair of CFP Board

 

[growing_older]

TLA

 

[mickeyd]

TLA

Texas Library Association?

 

[Htown Harry]

Texas Library Association?

I think growing_older means "Three-Letter Acronym", mickeyd.

Certified Financial Planner

Ironic that the board just voted on the disciplinary rules in August. Caught in their own net, so to speak. List of 26 violations here:
http://www.cfp.net/downloads/CFPBoard_Sanction_Guidelines_2012-07.pdf

This press release gives some more info, but not much more.
CFP BOARD’S BOARD OF DIRECTORS ANNOUNCES RESIGNATION OF ITS CHAIR, ALAN GOLDFARB, CFP®

This story hints at some alleged misrepresntation of commissions as salary:
http://www.financial-planning.com/n...l-be-cleared-of-any-wrongdoing-2681676-1.html

[Goldfarb:]I can say that the alleged violation concerns representing my compensation as ‘salary,’ which it is,” he wrote, “as opposed to ‘fee and commission,’ since I am also the principal of an M&A-based broker-dealer."

The CEO of the CFP Board, Kevin Keller, said Goldfarb had mischaracterized the allegation. “Alan Goldfarb’s description of the alleged violation that is being referred for further proceedings under our disciplinary rules and procedures is not correct,” Keller said. He would not elaborate.