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← Series 63: Remedies & Administrative Provisions
Series 63 practice questioneasyCriminal Penalties — Who Initiates Prosecution

On a final review set, the question is presented in this context. Assume all filings and notices are evaluated under the USA. Criminal prosecution under the Uniform Securities Act is initiated by:

  1. AThe state securities Administrator
  2. BThe SEC
  3. CThe appropriate prosecuting attorney (e.g., state attorney general or district attorney)✓ Correct answer
  4. DThe aggrieved investor directly
Explanation

Why C — The appropriate prosecuting attorney (e.g., state attorney general or district attorney)

Under USA Section 409, criminal prosecution is initiated by the appropriate prosecuting attorney, such as the state attorney general or district attorney. The Administrator may refer cases for prosecution but does not have the authority to bring criminal charges directly. This variant keeps the same legal rule but shifts the setup so recall has to stay flexible.

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