The Certified Financial Planner Board of Standards has approved new sanction guidelines for its Disciplinary and Ethics Commission.

The Board of Directors approved the guidelines, which take effect August 27, at its July board meeting on Thursday.

CFP Board CEO Kevin R. Keller said the guidelines outline the types of punishment CFP Board certificants may receive for rule violation. In cases where violations are found, the board's Disciplinary and Ethics Commission may impose discipline ranging from a private letter of censure or public admonition to suspension or revocation of the right to use the CFP mark.

The CFP Board's decision followed a 45-day comment period, during which it received 33 comments and 162 responses to an online survey.

-Jim McConville