John noted the CFP Board is making a big commitment to enforcement, especially after a Wall Street Journal article in July highlighted the board’s past practice of allowing CFP licensees to self-report any complaints from investors or other problems. The board is no longer relying on existing CFP advisors to self-report and now has a team of 12 people checking Finra and IAPD records for advisor infractions, she said.
The board also created a task force on enforcement, which is scheduled to make recommendations to its board of directors next month. The CFP Board plans to make those recommendations public.