Series 63 practice questionmediumAdministrator Authority
A broker-dealer's registration was summarily suspended by the Administrator. The firm requests a hearing. According to the USA, when must this hearing be provided?
- AWithin 15 days of receiving the written request.✓ Correct answer
- BAt any time the Administrator deems appropriate.
- CWithin 30 days of receiving the written request.
- DWithin 60 days of receiving the written request.
Explanation
Why A — Within 15 days of receiving the written request.
Per Section 204, upon written request, a hearing must be granted within 15 days. The other timeframes are too long and would violate due process rights.
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