Steve was a certified professional planner who was a general partner of a hedge fund. He placed most of his clients in that hedge fund without telling them of his ownership in it. When the results seemed to be disappointing, he sold his ownership and personal holdings in the fund and thereafter told his clients to get out. Which SEC and CFP violations were violated? What would you recommend he do to try to rectify the situation? What would you do if Steve was your partner or employee?

List the seven principals of the CFP Code of Ethics. Describe and define each of the seven principals. Describe how Steve violated each of the principals.

Thank you!