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Series 63: Remedies & Administrative Provisions
Series 63 practice questionhardAdministrator and judicial review

After a hearing, the Administrator upholds a denial of registration. What is the next step for the affected party if they wish to challenge the decision?

  1. AFile a petition for judicial review in the appropriate state court within the statutory time limit.✓ Correct answer
  2. BReapply for registration immediately.
  3. CRequest another hearing before the same Administrator.
  4. DFile a complaint with the SEC.
Explanation

Why AFile a petition for judicial review in the appropriate state court within the statutory time limit.

Judicial review is available by petition in state court within 60 days (USA Sec 411). Simply reapplying or appealing to the SEC is not provided under the USA.

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