Financial Planning: Process and Rules - Article 13: Conviction of a Crime or Professional Suspension

ARTICLE 13: CONVICTION OF A CRIME ORPROFESSIONAL DISCIPLINE

13.1 Proof of Conviction or Professional Discipline

Except as otherwise provided in these Disciplinary Rules, a certificate from the clerk of any court of criminal jurisdiction indicating that a Respondent has been convicted of a crime in that court or a letter or other writing from a governmental or industry selfregulatory authority to the effect that a Respondent has been the subject of an order of professional discipline (as hereinafter defined) by such authority, shall conclusively establish the existence of such conviction or such professional discipline for purposes of disciplinary proceedings and shall be conclusive proof of the DEC of that crime or of the basis for such discipline, by the Respondent.

 

13.2 Duty to Report Criminal Conviction or Professional Discipline

Every Respondent:

(1) upon being convicted of a crime, other than minor traffic offenses;

(2) upon being the subject of professional discipline; or

(3) upon notification of a change to a matter previously disclosed under items (1) and (2) to CFP Board, shall notify CFP Board in writing of such conviction or professional discipline within 30 calendar days after the date on which the Respondent is notified of the conviction or professional discipline.

13.3 Commencement of Disciplinary Proceedings Upon Notice of Conviction or Professional Discipline.

Upon receiving notice that a Respondent has been convicted of any crime occurring within the last 10 years, other than minor traffic offenses, or been the subject of professional discipline, CFP Board Counsel shall determine whether an investigation is warranted. CFP Board shall obtain the record of conviction or proof of discipline and, if appropriate, file a Complaint against the Respondent as provided in Article 7. If the Respondent’s criminal conviction or professional discipline is either proved or admitted as provided herein, the Respondent shall have the right to be heard by the Hearing Panel only on matters of rebuttal of any evidence presented by CFP Board Counsel other than the proof of the conviction or professional discipline.

13.4 Definition of Professional Discipline

Professional discipline as used herein shall include the suspension, bar or revocation as a disciplinary measure by any governmental agency, industry self-regulatory organization or professional association.

 

 

Article 14: Settlement Procedure
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