Laws & RegulationsQuestion 33 of 100
A broker-dealer wishes to withdraw its registration. Under the Uniform Securities Act, withdrawal generally becomes effective:
a.Immediately upon filing with no waiting period ever
b.Only after five years
c.30 days after filing, unless the Administrator institutes a proceeding
d.Only with SEC approval
Explanation
A withdrawal of registration typically becomes effective 30 days after filing, provided no revocation or other proceeding is pending or instituted. The Administrator retains authority to act on violations for a period after withdrawal. This orderly process protects investors during transitions.
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