According to FINRA, Saraie Dorgilles was barred from association with any FINRA member firm in all capacities after refusing to appear for on-the-record testimony requested by FINRA.

FINRA sought Dorgilles' testimony in connection with its investigation into her conduct while taking the Securities Industry Essentials (SIE) exam. The SIE exam is an entry-level exam that assesses basic knowledge of the securities industry and is required for individuals seeking to become registered representatives.

By refusing to cooperate with FINRA's investigation, Dorgilles prevented regulators from fully investigating the matter. FINRA takes exam integrity seriously, as the qualification exams are designed to ensure that individuals working in the securities industry have demonstrated the knowledge necessary to serve investors.

FINRA Rule 8210 requires associated persons to cooperate with FINRA investigations, including appearing for testimony when requested. Refusal to cooperate results in serious consequences including being barred from the securities industry.

The bar from the securities industry means that Dorgilles can no longer work in any capacity for any FINRA member firm. This case demonstrates FINRA's commitment to maintaining the integrity of its qualification examination program.

Investors benefit from knowing that individuals in the securities industry must pass qualification exams and that FINRA actively investigates potential exam misconduct.