http://www.cfainstitute.org/ethics/conduct/pages/candidate_sanctions.aspx
Disclosure of Exam Content
Following the exam, two Level II candidates, Anurag Jain and Nana Kweku Nduom, used Analyst Forum, an internet chat forum, to contribute, solicit, and compile June 2009 Level II CFA exam content. The information was compiled into a spreadsheet and further offered to other candidates via the internet forum and other internet sources. The Professional Conduct Program investigated these matters and found that the candidates engaged in the conduct, thereby compromising the integrity and security of the CFA exam in violation of the CFA Exam Rules, Candidate Pledge, and the CFA Institute Code of Ethics and Standards of Professional Conduct, specifically Standard VII(A) – Conduct as Members and Candidates in the CFA Program. Both Mr. Jain and Mr. Nduom requested a Hearing Panel. After consideration of the evidence in each respective case, the Hearing Panels determined the candidates’ conduct of compiling, soliciting, and distributing CFA exam content violated the CFA Exam Rules and the CFA Institute Code of Ethics and Standards of Professional Conduct and imposed the sanction of
Five-Year Suspension from Participation in the CFA Program and
Voiding of Exam Results on each respective candidate.
Following the exam, a Level II candidate, Randall Lucas, posted on his blog regarding his experience at the CFA exam and mentioned topics covered and material not covered on the exam. At the time of the blog posting, the CFA exam was still being administered around the world. The Professional Conduct Program investigated the matter and found that the candidate engaged in the conduct and thereby violated the CFA Exam Rules and the CFA Institute Code of Ethics and Standards of Professional Conduct. The candidate accepted the sanction of
Public Censure and
Voiding of Exam Results.