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← Series 63: Remedies & Administrative Provisions
Series 63 practice questionmediumCivil and Criminal Proceedings

May securities misconduct under the Uniform Securities Act lead to both a civil or administrative enforcement proceeding and a separate criminal prosecution?

  1. AYes, because the proceedings involve different remedies and standards✓ Correct answer
  2. BNo, because any civil proceeding automatically bars criminal prosecution
  3. CNo, because only private buyers may enforce the Act
  4. DYes, but only when the security is federally covered
Explanation

Why A — Yes, because the proceedings involve different remedies and standards

The same conduct may support civil or administrative enforcement and, when the criminal requirements are met, a separate criminal prosecution. A state Administrator may investigate and pursue authorized enforcement remedies, while criminal prosecution is brought through the appropriate prosecuting authority.

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