Series 63 practice questionmediumOngoing Disclosure - Administrator Demands
An Administrator requires quarterly updates after registration by coordination. Which statement is MOST accurate?
- AThe Administrator may require such updates only if they are also filed with the SEC
- BThe Administrator cannot impose additional reporting after registration by coordination
- CThe Administrator may only require annual updates, never quarterly
- DThe Administrator may require ongoing reports if they do not conflict with federal law✓ Correct answer
Explanation
Why D — The Administrator may require ongoing reports if they do not conflict with federal law
USA Section 307 allows the Administrator to require further information as long as it does not conflict with federal requirements. Answers A, B, and C incorrectly limit the Administrator’s power.
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