Series 63 practice questionhardAdministrative Procedures — Summary Suspension
For a licensing checkpoint quiz, treat the following as the opening fact pattern. The key is the registration, exemption, or ethical rule doing the real work. Under what circumstances may the Administrator issue a summary order suspending a registration without a prior hearing?
- AWhenever the Administrator believes any provision of the act has been violated
- BOnly after obtaining a court order authorizing the summary suspension
- CWhen it is in the public interest and the Administrator finds that the delay caused by providing a prior hearing would be detrimental✓ Correct answer
- DOnly when the registrant has been convicted of a felony
Explanation
Why C — When it is in the public interest and the Administrator finds that the delay caused by providing a prior hearing would be detrimental
Under USA Section 204(a), the Administrator may issue a summary order to postpone or suspend a registration pending final determination of a proceeding when the public interest requires it and delay would cause harm. The registrant must still be given prompt notice and an opportunity for a hearing afterward. The extra setup is just noise; the controlling state-law rule stays the same.
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