According to FINRA, Jackson Boomer was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for 18 months.

Boomer accessed unauthorized materials during his Series 66 examination. Prior to beginning the exam, Boomer attested that he had read and would abide by the NASAA Qualification Examinations Rules of Conduct, which prohibited the use or attempted use of any personal items, including electronic devices, phones, and personal notes during the examination and required him to store all personal items in the locker provided by the test vendor prior to entering the test room.

During the examination, Boomer had access to a personal note he wrote on his leg during the examination. He also took an unscheduled restroom break during which he had access to a personal cellphone that he had left in the restroom.

The Series 66 examination tests knowledge of state securities regulations and investment adviser regulations. Like all securities industry qualification examinations, it is designed to ensure that registered persons have the minimum knowledge necessary to perform their jobs competently and ethically. The integrity of these examinations depends on all candidates being tested under the same conditions without access to unauthorized materials.

By bringing unauthorized materials into the exam (a note written on his leg) and accessing his phone during a restroom break, Boomer violated the examination rules he had agreed to follow. This conduct demonstrates dishonesty and a willingness to cheat to achieve professional credentials. Even if Boomer passed the exam, the pass was not legitimate because he did not earn it through his own knowledge.

The 18-month suspension is substantial, reflecting the seriousness of examination misconduct. Cheating on qualifying examinations undermines the entire licensing system and the public's confidence that registered persons have the knowledge required to serve investors competently. The securities industry depends on trust, and someone who cheats on an examination has demonstrated a lack of integrity.

Investors should be aware that the licenses their broker holds are supposed to represent genuine knowledge and qualification. Examination misconduct means the broker may lack the knowledge those licenses are supposed to represent. BrokerCheck allows investors to verify a broker's licenses and any disciplinary history.