What You Must Know
- A CFP shared examination content material with different people who have been taking the CFP Board’s certification examination.
- The habits violated FINRA Rule 2010 and the CFP Board’s Pathway Settlement.
- CFP Board’s DEC imposed a five-year bar on the CFP from making use of for or acquiring the CFP certification for examination misconduct.
The Monetary Business Regulatory Authority has fined an authorized monetary planner $5,000 and suspended him for one month for sharing examination content material with different people who have been taking the CFP Board’s certification examination.
“By trying to present help to others taking the examination, speaking with others concerning the examination, and disclosing examination content material and questions in violation of the CFP Board testing guidelines,” Joseph Occhipinti violated FINRA Rule 2010, the broker-dealer self-regulator stated.
CFP Board issued a short lived bar in opposition to Occhipinti first for a similar conduct.
After taking the CFP examination on March 12, 2021, Occhipinti shared examination content material with different people, which violated the CFP Board testing guidelines, in accordance with FINRA’s order. Occhipinti was employed at Goldman Sachs on the time, in accordance with his BrokerCheck profile.
FINRA Rule 2010 supplies that member companies and their related individuals “shall observe excessive requirements of business honor and simply and equitable ideas of commerce” within the conduct of their enterprise. Rule 2010 encompasses any unethical, business-related misconduct no matter whether or not it entails a safety.
The CFP designation, administered by the Licensed Monetary Planner Board of Requirements, is granted to people who go the CFP examination and fulfill the training, expertise and ethics necessities. The CFP examination is a 170-question, a number of alternative check provided thrice per 12 months.
As a part of the registration course of to take the CFP examination in March 2021, “Occhipinti agreed to abide by the CFP’s Pathway Settlement, which prohibited examination misconduct earlier than, throughout and after examination administration,” FINRA’s order states.