Series 63 practice questionmediumAdministrator jurisdiction and cooperation
After learning of suspected criminal activity by an agent, the Administrator in State Q issues a cease and desist order and refers the case to the Attorney General. Which of the following statements is TRUE?
- AThe Administrator cannot pursue administrative actions once a criminal referral is made.
- BThe Attorney General may still choose not to prosecute the criminal case.✓ Correct answer
- CThe Administrator is prohibited from seeking civil remedies while criminal charges are pending.
- DCriminal prosecution must begin before administrative proceedings can occur.
Explanation
Why B — The Attorney General may still choose not to prosecute the criminal case.
The Attorney General has discretion to prosecute (USA 409(b)), even after referral. Administrative and civil proceedings can proceed in parallel; neither is dependent on criminal prosecution.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,051+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Remedies & Administrative Provisions questions
- Which of the following best illustrates the primary difference in the standard of proof between civil and criminal…
- An agent's willful violation was discovered in 2024, but the illegal act occurred in 2019. The statute of limitations…
- All of the following could serve as a defense against criminal prosecution under the USA EXCEPT:
- Which of the following scenarios MOST clearly demonstrates 'willfulness' for criminal liability under the USA?
- A person convicted of willfully violating the Uniform Securities Act may be subject to:
- A junior banker at William Blair sells an unregistered, non-exempt security in State A after being warned by the…
- May securities misconduct under the Uniform Securities Act lead to both a civil or administrative enforcement…
- All of the following are usually required for a criminal conviction under the Uniform Securities Act EXCEPT:
