Administration & LiabilityQuestion 97 of 100
Which of the following may the Administrator NOT do?
a.Deny an application for registration after notice and an opportunity for hearing
b.Issue a cease and desist order
c.Issue an injunction or sentence a violator to prison
d.Subpoena records located in another state
Explanation
Injunctions and criminal sentences are judicial remedies: the Administrator must ask a court for an injunction and must refer evidence to a prosecutor for criminal charges. Administrative powers include denying, suspending, and revoking registrations after notice and an opportunity for hearing, issuing cease and desist orders, and compelling the production of records wherever they are kept. Keeping the administrative and judicial roles straight is a heavily tested distinction.
Law Reference: Uniform Securities ActPractice all 100 questions free — no signup required.
Related questions on this topic
- 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?
- A non-resident broker-dealer is sued under a state's securities act. Because the firm filed a consent to service of process, legal papers may be:
- After an investigation, the Administrator concludes that a person has willfully violated the act and that criminal charges are appropriate. The Administrator may:
- An applicant for agent registration has passed the required examination and has no disciplinary history, but the Administrator considers her inexperienced. Under the Uniform Securities Act, the Administrator:
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against NASAA Series 63 — Uniform Securities Agent State Law Exam · How we review