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.