FINRA Bars 2 Reps for Cheating on Remote Exams

“Test cheaters are on notice,”  Jessica Hopper, Executive Vice President and Head of FINRA Enforcement, said in a statement. “Regardless of the testing environment, FINRA remains vigilant in our efforts to detect cheating and will vigorously pursue disciplinary action — including permanent bars — against any individual who cheats on qualification examinations.”

In response to the COVID-19 pandemic, candidates have been permitted to take qualification exams through an online testing service as well as in person, FINRA said.

Online exams use camera-equipped computers and are proctored remotely by testing service staff.

While these are FINRA’s first actions against individuals for online cheating, FINRA points out that it has suspended or barred 12 individuals since January 2021 who cheated on in-person qualification exams or possessed unauthorized materials while taking in-person tests.

In settling the matters, Autiero and Kausar accepted and consented to the entry of FINRA’s findings without admitting or denying them.