As the CFP Board expands its enforcement activities, it has created the new position of director of investigations and hired veteran securities regulator Rex Staples to fill the role.
“Rex’s experience as head of [securities] enforcement for the state of Washington will be invaluable and his general understanding and background in securities law will be a great asset to CFP Board,” said Kevin Keller, the board’s CEO.
Staples will report to Michael P. Shaw, the board’s managing director for Professional Standards and Legal.
“Rex Staples will make an immediate impact on CFP Board’s efforts to enforce the high standards of the CFP designation,” Shaw said.
Prior to his arrival at CFP Board, Staples served as the general counsel for the North American Securities Administrators Association, an organization that represents securities administrators in each of the states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands as well as Mexico and Canada. Before joining NASAA, Staples was with the Washington State Securities Division for almost a decade, last serving as the branch chief for enforcement and compliance.
“The enforcement function at CFP Board is very important,” Keller said, in explaining the impetus for the new position. “As the number of CFP certificants continues to grow and as we in the Washington D.C. office continue to mature, it made sense to deepen our bench strength.”
Staples earned his J.D. from Gonzaga University School of Law and his Bachelor’s degree in psychology from the University of Washington. Over the course of his career, Staples has served on various professional commissions, councils and task forces and is a sought-after speaker and guest lecturer.
—Ann Marsh writes for Financial Planning.