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← Series 63: Remedies & Administrative Provisions
Series 63 practice questionmediumSubpoena enforcement and due process

A branch office in State E receives a subpoena from the State F Administrator for client records relating to suspected fraud involving State F residents. Which procedural right does the branch office have under the USA?

  1. AThe right to challenge the subpoena in State F’s courts for reasonableness.✓ Correct answer
  2. BNo rights; the subpoena must be obeyed immediately.
  3. CThe right to deny the request until the investigation is completed.
  4. DThe right to appeal to the SEC before complying.
Explanation

Why A — The right to challenge the subpoena in State F’s courts for reasonableness.

Section 407(b) allows parties to challenge an Administrator's subpoena in court for being unreasonable or oppressive. B, C, and D are incorrect as there are procedural protections but not the ones described.

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