Series 63 practice questioneasyApplication of Criminal Penalties
An agent unintentionally fails to register in a state before soliciting a client. According to the USA, the agent is:
- ASubject to criminal penalties
- BSubject only to civil penalties
- CNot subject to criminal penalties because the violation was not willful✓ Correct answer
- DSubject to automatic imprisonment
Explanation
Why C — Not subject to criminal penalties because the violation was not willful
Criminal penalties under the USA require willful conduct. An unintentional (unwitting) violation does not trigger criminal liability (Section 409).
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