Series 63 practice questionmediumAdministrator’s Authority—Non-Registrant
If the Administrator has reason to believe a person is violating the USA but that person is not registered, the Administrator may:
- AInvestigate and subpoena records relating to the suspected violation✓ Correct answer
- BTake no action because the person is not registered
- CSuspend the person’s driver’s license
- DImpose federal penalties
Explanation
Why A — Investigate and subpoena records relating to the suspected violation
The Administrator's investigative authority under Section 411 applies to anyone suspected of violating the Act, regardless of registration. Options B, C, and D describe powers the Administrator does not have.
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