Series 63 practice questionmediumJudicial Review—Timeline
A broker-dealer is denied registration by the Administrator. Under the USA, how soon must the broker-dealer file for judicial review if it wishes to contest the decision?
- AWithin 60 days after the order is issued✓ Correct answer
- BWithin 30 days after the order is issued
- CBefore taking any other action
- DAt any time before the next registration period begins
Explanation
Why A — Within 60 days after the order is issued
Section 413 of the USA requires that judicial review petitions must be filed within 60 days of the order. Thirty days (B) is too short, C and D are incorrect as there is a specific 60-day window.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,051+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Remedies & Administrative Provisions questions
- An IA firm located in State Y is registered in State X due to having several clients there. The Administrator of State…
- When investigating a possible violation, the Administrator has the power to:
- If a broker-dealer's registration in a state is revoked and then re-applied for, what is required regarding the consent…
- The consent to service of process remains in force:
- A registrant files for judicial review of an Administrator's order. Under the USA, what will the court do first?
- Which of the following is TRUE regarding the Administrator's authority to require records from registrants?
- Under the NASAA-updated 1956 USA, for how long must a state-registered investment adviser preserve required records?
- The consent to service of process filed with a registration application allows the Administrator to: