Series 63 practice questionmediumAdministrator Powers
A state Administrator suspects a registration statement is incomplete. Which action may the Administrator take under the USA?
- AIssue a stop order without prior notice or hearing
- BRequest more information before the effective date✓ Correct answer
- CRevoke the SEC registration
- DPermanently ban the issuer from future offerings
Explanation
Why B — Request more information before the effective date
The Administrator may require additional information before registration is effective (USA Section 305(e)). Stop orders require notice/hearing (A); C and D exceed Administrator authority.
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