Administration & LiabilityQuestion 93 of 100
A registrant disagrees with a final order entered by the Administrator. The registrant may:
a.Ignore the order until the Administrator brings an enforcement action
b.Obtain judicial review by filing a petition in the appropriate court within sixty days of the order, though filing generally does not stay the order
c.Appeal directly to the SEC
d.Demand a jury trial before the Administrator
Explanation
Final orders are subject to judicial review on a written petition filed within sixty days, and the reviewing court examines the administrative record. Filing the petition does not by itself suspend the order unless the court so directs, so the registrant must comply in the meantime. State administrative orders are not appealed to the SEC, and administrative hearings are conducted without juries.
Law Reference: Uniform Securities ActPractice all 100 questions free — no signup required.
Related questions on this topic
- Under the Uniform Securities Act as commonly adopted, a person convicted of a willful violation of the act faces criminal penalties of:
- An investor buys a security in a sale that violated the registration provisions of the act. In a civil suit, the investor may generally recover:
- 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?
- An Administrator has jurisdiction over an offer or sale when:
- Regarding records of registered broker-dealers and investment advisers, the Administrator:
- Which statement about the Administrator's rulemaking authority is correct?
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against NASAA Series 63 — Uniform Securities Agent State Law Exam · How we review