The battle over documents in the case of a Florida financial advisory couple against the CFP Board of Standards Inc. continues to drag on, this time with the board is demanding documents from plaintiffs Jeffrey and Kimberly Camarda, according to a motion filed in U.S. District Court in Washington D.C. on Friday.
The board says the Camardas have failed to comply with requests for documents needed for the discovery process. According to the motion, the deadline for submitting the documents has been extended twice and was last set for July 28.
The Camardas have said the requests for documents are overly broad and unduly burdensome because they are not specific enough or seek information about people other than the Camardas and their representatives.
The CFP Board has asked the court to compel the Camardas to produce all documents requested.
This is not the first argument about documents. The Camardas earlier won a court order requiring the CFP Board to produce documents in the case and the court issued the requested order. The board has since turned over more than 300,000 pages of documents to the Camardas.
The court battle originated when the Camardas, owners of Camarda Financial Advisors in Fleming Island, Fla., sued the CFP Board because of the board’s disciplinary action against the couple. The board took action because it said the firm was improperly using the term “fee only” to describe itself. The issue about the use and exact meaning of the term “fee only” has since embroiled other advisors and firms, including leaders in the industry, and prompted changes at the CFP Board.