Administration & LiabilityQuestion 96 of 100
Which statement about the Administrator's rulemaking authority is correct?
a.The Administrator may adopt rules but never prescribe forms
b.Rules take effect only after approval by the SEC
c.Rules may be adopted in secret and enforced immediately
d.The Administrator may make, amend, and rescind rules, forms, and orders necessary to carry out the act, and rules must be published before they can be enforced
Explanation
The act gives the Administrator broad authority to adopt, amend, and rescind rules and forms and to issue orders as necessary to administer the statute, subject to publication so that regulated persons have notice. No rule may be enforced against a person who had no notice of it. State rules are not submitted to the SEC for approval, though they cannot conflict with preemptive federal law.
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