← Broker database 2023-04-14
William Fournier Barred for Cheating on Series 7 Exam Using Internet
According to FINRA, William Joseph Fournier was barred from association with any FINRA member in all capacities for accessing the internet to help him cheat on the General Securities Representative (Series 7) examination.
Prior to beginning the examination, Fournier attested that he had read and would abide by the relevant Rules of Conduct. However, during the examination, which he was taking remotely, Fournier used his cellphone to access the internet to help him answer exam questions. This violated the examination rules and represented a deliberate attempt to gain an unfair advantage through dishonest means.
The integrity of securities industry examinations is fundamental to ensuring that registered persons possess the knowledge and competence required to serve investors. Qualification examinations like the Series 7 test a candidate's understanding of securities products, regulations, and ethical obligations. When individuals cheat on these examinations, they demonstrate both a lack of required knowledge and a willingness to act dishonestly, making them unsuitable to work in a position of trust with investors' money.
This case demonstrates FINRA's commitment to maintaining examination integrity, particularly as remote testing has become more common. The use of technology to cheat, while the examination is being administered remotely, shows premeditation and a serious character flaw. Investors should take comfort knowing that FINRA actively monitors for and sanctions examination misconduct, helping ensure that only qualified and ethical individuals are permitted to work in the securities industry.