Three new directors have been elected to oversee the CFP Board of Standards, which lost its chairman last month after he resigned amid ethics allegations.
CFP Board announced today it elected three new members to its Board of Directors for 2013: Blaine F. Aikin, CFP, president and CEO of fi360, which offer education programs and software for investment fiduciaries; Arthur B. Laby, a professor at Rutgers School of Law in Camden, N.J., and a former assistant counsel to the Securities and Exchange Commission; and Thomas C. Nelson, president of the national anti-hunger group Share Our Strength and an adjunct professor at Georgetown University's McDonough Business School.
Two director vacancies were created on the 15-member board by the departures of Goldfarb and Richard Sincere, who left the board earlier in the year for business reasons. A third vacancy will occur at the end of the year when director Joan Wise finishes her term.
During a special meeting on October 31, the Board of Directors was informed that its chairman, Alan Goldfarb, and three members of CFP Board's Disciplinary and Ethics Commission (DEC) were resigning over allegations that they violated provisions of CFP Board's Standards of Professional Conduct. The three resigned after they were presented with findings of a special committee that concluded the allegations had sufficient merit to warrant further review. Goldfarb has maintained publicly that he did not do anything improper.
2012 Chair-elect Nancy Kistner, CFP, was elected to fill the remainder of Goldfarb's term. She will continue to chair the Board of Directors through December 31, 2013.