Finra asks hearing panel to sanction test cheater

Former National Planning rep Jason David took break during exam.
MAR 26, 2018

The Financial Industry Regulatory Authority's enforcement department has asked a Finra hearing panel to impose sanctions against former broker Jason David for cheating on his Series 66 examination. The Finra enforcement department said that Mr. David, who was affiliated with National Planning Corp. from October 2016 to May 2017, when the firm permitted him to resign, had consulted an exam-prep guide during an unscheduled break in the test, then returned and changed several of his answers. Using a study guide during an exam violates Finra rules, the organization said. Mr. David took the examination in December, 2016 in Chicago. The closed-book exam schedules no breaks, but test-takers may request a break solely for the purpose of using the restroom. During his break, Mr. David went to a locker where he had placed the test guide and consulted it, Finra said. After failing that test, Mr. David took another Series 66 exam in February 2017. He again took a bathroom break and consulted a test guide that he kept in a coat locker. He passed the second examination. Since resigning, Mr. David has not worked in the securities industry.

Latest News

Integrated Partners, Kestra welcome multigenerational advisor teams
Integrated Partners, Kestra welcome multigenerational advisor teams

Integrated Partners is adding a mother-son tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.

Trump not planning to fire Powell, market tension eases
Trump not planning to fire Powell, market tension eases

Futures indicate stocks will build on Tuesday's rally.

From stocks and economy to their own finances, consumers are getting gloomier
From stocks and economy to their own finances, consumers are getting gloomier

Cost of living still tops concerns about negative impacts on personal finances

Women share investing strengths, asset preferences in new study
Women share investing strengths, asset preferences in new study

Financial advisors remain vital allies even as DIY investing grows

Trump vows to 'be nice' to China, slash tariffs
Trump vows to 'be nice' to China, slash tariffs

A trade deal would mean significant cut in tariffs but 'it wont be zero'.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.