The Financial Industry Regulatory Authority has permanently barred two representatives, Brandon Autiero of New Jersey and Harris Kausar of New York, from the securities industry for cheating during qualification examinations administered online.

The enforcement actions are Finra’s first directed at remote exam cheating, the regulator said in a statement announcing the actions today.

"Test cheaters are on notice: 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,” warned Jessica Hopper, Finra’s executive vice president and head of enforcement.

Both representatives were caught accessing internet forums to seek answers while taking online Finra exams, in violation of the rules set by Finra and other securities regulators. Online examinations use camera-equipped computers and are proctored remotely by testing service staff, who were able to detect the reps’ activity.

“Finra employs a variety of tools and processes to monitor test-taking misconduct,” spokesman Ray Pellechia told Financial Advisor magazine.

These are Finra’s first actions against candidates for online cheating, but the organization has previously suspended or barred 12 individuals since January 2021 for cheating on in-person qualification exams or possessing unauthorized materials while taking in-person tests.

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

Autiero became associated with Equitable Advisors LLC in January 2021, and later registered with the firm as a general securities representative in March 2021, according to his BrokerCheck report.

He was associated with Equitable Advisors when he accessed the internet for assistance while taking exams on five occasions—once for an online Finra exam for the Series 7 and four times for two exams given by the North American Securities Administrators Association for the Series 63 and Series 66 licenses, according to the letter of acceptance, waiver and consent he submitted.

According to a Form U5 Equitable filed on February 24, 2022, Autiero was permitted to resign on February 18, 2022, “after receiving a request from Finra and admitting having violated ethical standards during a Finra exam.”

Kausar had been associated with Barclays Capital Inc. since July 2021. There he sought to become a registered investment banking representative, according to his settlement.

He took the Finra Series 79 Investment Banking Representative Exam on December 26, 2021. “During the examination, Kausar accessed the internet, including online forums, to assist with answering examination questions,” in violation of Finra rules, according to his settlement.

According to a Form U5 Barclays filed on February 25, 2022, Kausar was terminated because he “did not pass [his] qualification examination within [the] agreed upon time period.”

“Kausar had been provided an accommodation to take the exam online rather than in person. Prior to beginning the examination, Kausar attested that he had read and would abide by the Finra Rules of Conduct. These rules require candidates taking online examinations to store all personal items outside the room in which they take the exam, and prohibit any use, attempted use or access to personal items, including electronic devices or phones to access the internet during the examination,” according to his settlement.

To become registered, securities professionals must pass qualifying exams administered by Finra. These exams cover a broad range of subjects regarding securities markets, regulation and industry practices, Finra said.

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.