Series 63 practice questionmediumConsent to Service—New Application
If a broker-dealer's registration in a state is revoked and then re-applied for, what is required regarding the consent to service of process?
- AA new consent to service must be filed with each new application
- BThe original consent remains valid for all subsequent applications✓ Correct answer
- CNo consent to service is needed after the first filing
- DConsent is only needed if the Administrator specifically requests it
Explanation
Why B — The original consent remains valid for all subsequent applications
USA Section 414(g) states that a person who filed an irrevocable consent in connection with a previous registration or notice filing need not file another. The consent continues to support service for covered proceedings.
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