[EDITOR's Note: Several months after this story was published, a grand jury found all charges against Mr. Fallahi to be without merit and dismissed them. The CFP Board subsequently reinstated his CFP license.]

The Certified Financial Planner Board of Standards has imposed an interim suspension on a Dallas-based financial advisor who was arrested by the state for sexual assault of a minor.

The suspension of Anthony C. Fallahi, a Fidelity Investments employee, was effective as of March 3, the CFP Board said.

Fallahi’s BrokerCheck lists pending charges for sexual assault of a child under 17 on December 3. The Tarrant County Sherriff Office did not respond to a request for the arrest record.

The board said after learning of the felony charges against Fallahi, it filed a motion on February 7, 2021, requesting that the Disciplinary and Ethics Commission (DEC) issue an interim suspension order against Fallahi.

On March 3, a hearing panel of the DEC determined that the board “demonstrated by a preponderance of the evidence that Mr. Fallahi's conduct poses a significant threat to the public and significantly impinges upon the reputation of the profession or the CFP certification marks,” the board said. At that time, the interim suspension was imposed.

An interim suspension, the board explained, is a suspension of a CFP professional’s certification and trademark license, pending proceedings. Those subject to an interim suspension order must not use the CFP certification marks or state or suggest that they are CFP professionals while the order is in effect, the board said.

The interim suspension order is a temporary sanction and does not preclude the board from imposing a final sanction, the board said. The order will remain in place until the DEC or, if an appeal is filed, the appeals committee issues a final order.

Fallahi has been with Fidelity Brokerage Services since 2008. According to his Investment Adviser Public Disclosure, he was registered with Strategic Advisers LLC in Dallas from 2008 to 2018, and with Fidelity Personal and Workplace Advisors in Boston from 2018 until January.