Series 63 practice questioneasyAdministrator Powers — Authority
In a state-law practice set, a candidate reviews the following scenario. Prioritize the registration trigger and ignore irrelevant noise. Which of the following actions can a state securities Administrator take regarding the registration of a broker-dealer?
- ADeny, suspend, or revoke the registration✓ Correct answer
- BOnly deny the registration
- COnly revoke the registration after a criminal conviction
- DRefer the matter to the SEC for action
Explanation
Why A — Deny, suspend, or revoke the registration
Under USA Section 204, the Administrator has broad authority to deny, suspend, revoke, cancel, or withdraw the registration of a broker-dealer, agent, investment adviser, or investment adviser representative. This authority extends to all registration categories, not just criminal matters. This variant keeps the same legal rule but shifts the setup so recall has to stay flexible.
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