His hiring and the board’s rearrangement of its enforcement structure involved a separation of the responsibilities that go into any given investigation into a CFP professional’s conduct. Sporkin’s team manages the detection, investigation and prosecution of alleged violations of the board’s Code of Ethics and Standards of Conduct, while General Counsel Leo Rydzewski handles the adjudication, or the decision, and appellate functions in any disciplinary matters. Rydzewski will also be charged with providing guidance to industry professionals, as well as to the Disciplinary and Ethics Commission that hears cases of code violations.
Sporkin, who started in the new role Jan. 4, said separating these functions between himself and the general counsel would mirror the workflow at agencies like the SEC and FINRA, calling it the “evolved or most advanced model” for an entity like the CFP Board.
Source: New CFP Board Enforcement Chief Brings Separation of Functions
