Bankruptcy Disclosure Procedure
The CFP Board of Directors has recently adopted a new procedure for addressing those individuals who have filed a single bankruptcy within the previous five years and are not under investigation by the CFP Board for any other conduct.
These changes are effective July 1, 2012.
Amendments to Disciplinary Rules and Procedures
Following a public comment period and review of comments received during a 45-day comment period held from August-October 2011, the Board of Directors approved amendments to the Disciplinary Rules.
These amendments were designed to clarify ambiguities, eliminate inconsistencies and
strengthen, in particular, the interim suspension procedures of Disciplinary Rules.
These amendments are effective on June 1, 2012.
Amendments to Experience Requirement
The Board of Directors has approved the following changes to the Experience requirement consistent with CFP Board’s mission:
- CFP Board will recognize two (2) years of full-time experience, or its part-time equivalent, as a way to fulfill the experience requirement when three very rigorous requirements are met and documented:
- CFP Board will no longer require individuals applying for CFP® certification have six (6) months of experience gained within twelve
(12) months of reporting the experience. The requirement that
experience must occur within ten (10) years before or five (5) years after the successful exam completion still applies.
-CFP Board will offer a pre-review option for individuals who seek to determine whether experience accrued prior to successful completion of the CFP® Certification Examination qualifies toward CFP Board’s Experience requirement.
These changes are effective September 1, 2012.