No regulators report problems with CSAs
A Society of Certified Senior Advisors (SCSA) request for regulators to report
Certified Senior Advisors (CSA) engaged in any questionable practices has resulted
in no complaints about SCSA’s 13,000-plus CSA members.
SCSA mailed 150 insurance commissioners, state divisions of securities, NASD
officials, and officers of the Association of Insurance Compliance Professionals
a letter February 3 that stated, in part, “Should you have any questions or
concerns about the behavior or practices of any professional using the CSA
designation, our independent Board of Standards would appreciate knowing about
that and, if appropriate, taking disciplinary action.” More than four months later,
SCSA had received only one report, where a Texas regulator alerted SCSA that an
agent in that state was falsely purporting to be a CSA.
“We of course realize that receiving no reports doesn’t necessarily mean that no
CSA is doing something that may be unethical or unscrupulous. But we find it
noteworthy and gratifying that even when we solicited complaints from agencies
that are keenly attuned to what’s going on in their jurisdictions, we received
none. This is a credit to the quality and integrity of the professionals from
all walks of life who have earned the CSA designation,” said Ed Pittock, SCSA president.
SCSA’s Board of Standards has received 10 complaints so far in 2006 that allege
CSA violations of the CSA Code of Professional Responsibility. The majority were
filed by CSAs themselves. The Board has a range of options available to it, from
exoneration to revocation of the designation.
“Our commitment to benefiting seniors has no expiration date,” Pittock said.
“We are always interested to hear from regulators who share that commitment.”