Series 63 practice questionhardSuccessor registration — forms and timing
A registered investment adviser is succeeded by a new entity after a reorganization. Which statement about the successor is FALSE?
- AThe successor must make the filing required by the applicable successor-registration provision
- BThe successor may be able to continue the predecessor's registration for its unexpired period
- CThe successor's eligibility for state or SEC registration still matters
- DThe successor may rely on the predecessor's registration or exemption indefinitely without filing✓ Correct answer
Explanation
Why D — The successor may rely on the predecessor's registration or exemption indefinitely without filing
A successor cannot rely indefinitely on a predecessor's registration or exemption without the required filing. Any continuation is governed by the applicable successor-registration provision and the successor's own eligibility.
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