Edward Mora, VP and Senior Relationship Manager for Bank of the West Wealth Management in Newport Beach, Calif., has been appointed to serve as the 2011 Chairman of the Disciplinary and Ethics Commission (DEC), an independent body charged with upholding the value and integrity of the CFP certification by enforcing CFP Board's Standards of Professional Conduct.
The DEC is comprised of nine commissioners, seven of whom are CFP professionals, with the remaining two being public representatives. According to the CFP Board, the DEC meets three times a year to hear cases and mete out discipline, which may include suspending or revoking an individual's right to use the CFP marks. All cases may be appealed to the Appeals Committee of CFP Board's Board of Directors.
A shake-up occurred at the DEC back in January 2008 when the CFP Board decided to delegate to the CEO the authority to appoint the chair, members, and volunteers of the DEC, and to oversee the DEC. The chairman and some of the DEC commissioners at that time resigned in protest after the CFP Board's decision because they believed such a structure compromised the autonomy and independence granted to DEC.
