The Certified Financial Planner Board of Standards today announced that it has imposed interim suspensions on three financial planners for various violations, including one planner facing felony child pornography charges, according to a news release.
Jason Cooke of Clayton, Del.; Christopher J. Asher of Annapolis, Md.; and Vincent J. Camarda of Amityville, N.Y. lost their right to use the CFP certification marks pending the CFP Board’s completed investigation and possible further disciplinary proceedings.
All sanctions were effective on August 5, the board said.
Cooke, who worked for Pruco Securities, according to BrokerCheck, was arrested on April 28 and charged with five counts of felony dealing in child pornography in the Kent County (Delaware) Court of Common Pleas, the board said. Pruco fired him as a result of those charges, and press reports described the charges, the board said, noting that a hearing panel of the Disciplinary and Ethics Commission (DEC) reviewed the matter on August 4, granted the motion and issued the interim suspension. “Mr. Cooke’s conduct poses a significant threat to the public or significantly impinges upon the reputation of the profession or the CFP certification marks,” the board said.
Asher who works for Ameriprise Financial Services, was suspended by the DEC after it was found that he struck and killed a construction worker with his vehicle while under the influence of alcohol. According to the board’s release, “Mr. Asher was arrested and charged with felony manslaughter by vehicle, felony homicide by motor vehicle while under the influence of alcohol; felony negligent homicide by motor vehicle under the influence of alcohol; and misdemeanor criminally negligent manslaughter by vehicle in the Circuit Court of Anne Arundel, Maryland.” His conduct, the board said, “poses a significant threat to the public or significantly impinges upon the reputation of the profession or the CFP certification marks."
Camarda was suspended after the DEC found that the Securities and Exchange Commission filed a complaint against him, alleging that he recommended and sold the securities of an issuer without disclosing to the investors that he and his company were in debt to that issuer and thus had a conflict of interest. On June 9, the CFP Board said, the SEC filed the complaint against Camarda and two co-defendants in the U.S. District Court for the Eastern District of New York. The complaint concerned a securities offering that raised more than $75 million from more than 200 investors. It alleged that Camarda's actions were fraudulent and in violation of Sections 206(1) and (2) of the Investment Advisers Act of 1940. It said he further violated the registration provisions of the federal securities laws and sold the securities without proper registration. “Mr. Camarda’s conduct poses a significant threat to the public or significantly impinges upon the reputation of the profession or the CFP certification marks,” the board concluded.
Camarda had worked for IBN Financial Services since March 2021. He was permitted to resign on June 17, after the incident, according to BrokerCheck.