Series 63 practice questionmediumCriminal Penalties—Knowledge of Law
A new agent claims ignorance of the USA when accused of a willful violation. Which is TRUE regarding criminal penalties?
- AIgnorance of the law is a valid defense to criminal charges
- BWillful violation is required, but ignorance is not a defense✓ Correct answer
- COnly civil penalties can be imposed in this case
- DThe Administrator must provide training before bringing charges
Explanation
Why B — Willful violation is required, but ignorance is not a defense
Ignorance of the law is not a defense to criminal prosecution if the violation was willful (Section 409).
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