The Monetary Trade Regulatory has fined and suspended a former Morgan Stanley worker for having and accessing his cellular phone whereas taking the Collection 7 examination.

Stephen LaGreca was suspended from associating with any FINRA member in all capacities for 18 months and ordered to pay a $5,000 nice. He accepted the sanctions with out admitting or denying the findings.

In keeping with the order, on Dec. 18, 2022, whereas related to Morgan Stanley as a non-registered fingerprint particular person, Stephen LaGreca took the Collection 7 examination from his house utilizing a distant testing platform.

Previous to starting the examination, “LaGreca attested that he had reviewed and would abide by the Guidelines of Conduct, which require candidates to retailer all private objects exterior the room the place they take the examination and prohibit entry to non-public objects, together with cell telephones, in the course of the examination,” the order states.