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Dave, a CFP professional, has worked at ABC Financial for nine years. He has recently advised the firm that he will be moving to D&M
Dave, a CFP professional, has worked at ABC Financial for nine years. He has recently advised the firm that he will be moving to D&M Quality Investments, effective the end of July. In accordance with the provisions of Rule 12, and Rules 14 - 16 of FPCanada Standards Council Standards of Professional Responsibility (the Rules), Dave is preparing letters to all of his clients advising them of the change and providing new contact information. ABC Financial, however, has advised Dave that he is to have no contact with these clients as they are considered clients of the firm. If Dave does contact these clients, he will be risking legal action for solicitation of firm clients, contrary to the non-solicitation clause in his employment contract. What is Rule 12, and how does this impact Rules 14 - 16 withdrawal of services? What should Dave do in this circumstance? What are his obligations under his employment contract and is he at risk for disciplinary action under his CFP designation if he does not disclose this material change in circumstance
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