Series 63 practice questionmediumDistinguishing Remedies vs Administrative Actions
A junior banker’s registration is suspended after an investigation. Which remedy is the Administrator LEAST likely to impose as an administrative action?
- ABar from future registration
- BImpose a monetary fine for losses suffered by customers✓ Correct answer
- CCensure the individual
- DImpose conditions on future registration
Explanation
Why B — Impose a monetary fine for losses suffered by customers
The USA does not authorize the Administrator to impose monetary fines as restitution, only civil penalties; A, C, and D are administrative remedies in Section 412.
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