Administration & LiabilityCâu 90 / 100
Under the Uniform Securities Act as commonly adopted, a person convicted of a willful violation of the act faces criminal penalties of:
a.A fine, imprisonment, or both, with prosecution generally required to begin within five years of the alleged violation
b.Life imprisonment with no fine
c.A fine imposed directly by the Administrator, with no court involvement
d.No criminal exposure, because the act provides only civil remedies
Giải thích
Willful violations are criminal offenses punishable by a fine, imprisonment, or both, and the act sets a statute of limitations of five years from the alleged violation for beginning a prosecution. Criminal cases are brought in court by the appropriate prosecuting authority, not decided by the Administrator. Proof of willfulness means proof that the person intended the act, though not that the person knew it was unlawful.
Trích dẫn luật: Uniform Securities ActLuyện miễn phí toàn bộ 100 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which statement about a cease and desist order is correct?
- Before denying, suspending, or revoking a registration, the Administrator must generally find that:
- The Administrator believes immediate action is needed against a registrant while a proceeding is pending. The Administrator may:
- 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?
- A registrant disagrees with a final order entered by the Administrator. The registrant may:
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