Series 63 practice questionmediumCriminal Penalties — Concurrent Actions
A person who violates the USA may be subject to:
- AEither administrative or criminal penalties, but not both
- BEither civil or criminal penalties, but not both
- COnly the penalty that the Administrator deems most appropriate
- DAdministrative, civil, and criminal penalties simultaneously✓ Correct answer
Explanation
Why D — Administrative, civil, and criminal penalties simultaneously
Under the USA, administrative, civil, and criminal remedies are not mutually exclusive. A violator may face administrative action by the Administrator (suspension, revocation), civil liability to injured investors under Section 410, and criminal prosecution under Section 409, all arising from the same conduct.
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