The disciplinary procedures of FSS have been devised to ensure
a fair and reasonable process for Professional Plan Consultant™
designees against whom allegations of Code of Ethics violations
and/or Practice Standards non-compliance are brought.
Request for Investigation - Upon receipt of a written
complaint, the FSS Board reviews the allegations to determine
if further investigation is warranted.
Investigation - If the FSS Board determines to proceed
with an investigation, a PPC™ professional is given written
notice of the investigation, which contains the general nature
of the allegations. The PPC™ professional is given 30
days within which to file a written response. If no response
is received within the allotted 30 days a formal complaint
is issued and the case is presented to a hearing panel made
up of a member from the executive panel at Financial Service
Standards, FSS counsel, and two peer-group members..
Probable Cause Determination - FSS Board determines
if there is probable cause to believe grounds for discipline
exist. If so, staff will issue a formal complaint against
the PPC™ professional and a notice of hearing. The complaint
contains the specific allegations of misconduct and the potential
Code of Ethics and/or Practice Standards violations. The PPC™
professional has 20 days from the date of receipt of the complaint
to file a written answer. If no answer is received, the allegations
in the complaint are deemed admitted and the PPC™ professional's
right to use the PPC™ certification marks is administratively
revoked.
Forms of Discipline - If grounds for discipline have
been established, the FSS Board may impose any of the forms
of discipline below. All disciplinary actions, except private
written censure, may be publicly disseminated.
a private written censure
a temporary suspension of the individual's PPC certification
permanent revocation of the right to use the PPC marks
Public Disciplinary Actions - FSS Board's public disciplinary
action can take one of two forms -- a temporary suspension
of the individual's PPC certification or a permanent revocation
of the individual's PPC certification -- depending on the
severity of the breach, any mitigating or aggravating circumstances,
and the individual's cooperation with the Board's investigation.
