Series 63 practice questionhardCriminal Penalties—Fines and Imprisonment Application
A broker-dealer and two associated persons willfully violate the USA in concert. What is the maximum penalty EACH individual faces?
- A$5,000 fine and/or 3 years' imprisonment✓ Correct answer
- B$10,000 fine and/or 3 years' imprisonment
- C$5,000 fine and/or 5 years' imprisonment
- D$15,000 fine and/or 9 years' imprisonment
Explanation
Why A — $5,000 fine and/or 3 years' imprisonment
Each individual violator faces up to a $5,000 fine and/or 3 years of imprisonment per Section 409. The penalty is per violator, not cumulative.
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