Series 63 practice questionmediumWithdrawal and Disciplinary Proceedings
If a broker-dealer files to withdraw registration but is under investigation for violations, what may the Administrator do under the USA?
- AAllow withdrawal in 30 days regardless
- BPostpone the withdrawal until proceedings are complete✓ Correct answer
- CRefuse withdrawal and bar the firm from future registration
- DImmediately revoke the firm's registration
Explanation
Why B — Postpone the withdrawal until proceedings are complete
The Administrator may delay withdrawal if disciplinary proceedings are pending (USA Section 406(d)). A ignores this power. C and D are not the standard remedy.
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