CFP Board Imposes Interim Suspension on Ken A. Balser
WASHINGTON, Aug. 29, 2017, / PRNewswire-USNewswire/– Certified Financial Planner Board of Standards, Inc. (CFP Board) revealed today that it has enforced an automated interim suspension of Ken A. Balser’s CFP ® accreditation, efficient August 24, 2017.
CFP Board enforced an automated interim suspension following Mr. Balser’s grant a bar from associating in any capacity with any Financial Industry Regulatory Authority, Inc. (FINRA) member. Mr. Balser was disallowed by FINRA after he cannot produce inquired and stand for his on-the-record testament throughout the course of an examination into accusations that Mr. Balser participated in personal securities deals. By choosing not to react to FINRA’s ask for files and details and to stand for an on-the-record statement as asked for pursuant to FINRA Rules 8210, Mr. Balser broke FINRA Rule 8210 and 2010.
Pursuant to Article 5.7 of CFP Board’s Disciplinary Rules,” [a] n interim suspension will right away be provided without a hearing when CFP Board Counsel gets proof of a conviction or an expert discipline in accordance with Article 13.1 for … cancellation of a monetary expert license (securities, insurance, accounting or bank-related license).” Under the interim suspension order, Mr. Balser’s right to use the CFP ® accreditation marks is suspended pending CFP Board’s finished examination and possible more disciplinary procedures.
CFP Board’s enforcement procedure is a crucial customer security. CFP ® specialists accept follow CFP Board’s Standards of Professional Conduct (Standards), that includes the Code of Ethics and Professional Responsibility (Code of Ethics), Rules of Conduct and Financial Planning Practice Standards (Practice Standards). The Standards stated the ethical requirements for monetary coordinators who hold the CFP ® accreditation.
CFP Board implements its ethical requirements by examining events of supposed dishonest habits by CFP ® experts. In cases where infractions are discovered, the Disciplinary and Ethics Commission (Commission) might enforce discipline varying from a personal censure or public letter of admonition to the suspension or cancellation of an individual’s right to use the CFP ® marks. CFP Board’s Disciplinary Rules and Procedures (Disciplinary Rules) stated the procedure for examining matters and enforcing discipline where infractions have been discovered.