The Certified Financial Planner Board of Standards has appointed Edward Mora chairman of its Disciplinary and Ethics Commission, which polices the behavior of CFP designees.
Mora, vice president and senior relationship manager on the trust side of Bank of the West's wealth management operation in Newport Beach, Calif., will serve as the commission's chairman for one year.
Mora's primary responsibility at the CFP Board will be to preside over the three disciplinary hearings it holds each year. At each hearing, three-member panels weigh roughly 40 different cases, making recommendations to the commission on how it should adjudicate the case.
The commission has each prior case on file and applies its findings to the case at hand. The first hearing this year is Feb. 24-25. Mora said that he expects more bankruptcy cases this year; they now make up 20% of all cases, which is a "very unique situation," he said.
Mora also plans to expand the CFP Board's educational outreach to help members avoid rule violations.
"My two goals are protecting the public and providing fair process," he said. "I want the public to recognize that we have rigorous standards and that we rigorously enforce them."
