Administration & LiabilityQuestion 86 of 100
In investigating a suspected violation, the Administrator may:
a.Act only within the borders of his or her own state
b.Compel testimony only after obtaining a criminal indictment
c.Require testimony but never demand documents
d.Conduct investigations inside or outside the state, administer oaths, subpoena witnesses and records, and require written statements under oath
Explanation
The act grants broad investigative authority: the Administrator may investigate in or outside the state, publish information about violations, administer oaths, compel attendance of witnesses, and require the production of books, papers, and other records. These powers do not depend on a criminal charge. If a person refuses to comply, the Administrator asks a court to compel obedience through its contempt power.
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Related questions on this topic
- Which statement about a cease and desist order is correct?
- Before denying, suspending, or revoking a registration, the Administrator must generally find that:
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- A broker-dealer discovers it sold securities in violation of the act and sends the purchaser a written offer of rescission. Which statement is correct?
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