Series 63 practice questioneasyAdministrator Powers — Subpoena
The state securities Administrator has the power to issue subpoenas to:
- AAny person whose testimony is relevant to an investigation✓ Correct answer
- BOnly persons who have committed criminal violations
- COnly registered persons within the state
- DOnly broker-dealers and investment advisers
Explanation
Why A — Any person whose testimony is relevant to an investigation
Under USA Section 407, the Administrator may subpoena witnesses, compel their attendance, take evidence, and require the production of books, papers, or other documents relevant to any investigation or proceeding. This power is not limited to registered persons.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,051+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Remedies & Administrative Provisions questions
- A broker-dealer applicant was convicted of a securities-related misdemeanor 8 years ago. Under the Uniform Securities…
- An Administrator believes that a securities firm is engaged in ongoing fraudulent activity. What order may the…
- Under the Uniform Securities Act (USA), which of the following is TRUE regarding a state Administrator’s investigative…
- Which of the following actions can a state securities Administrator take regarding the registration of a broker-dealer?
- An agent in State A is suspected of selling unregistered securities. What action can the Administrator take prior to…
- Which of the following transactions would give the State Administrator jurisdiction under the USA?
- Under the USA, an Administrator’s investigation into possible violations:
- If an individual ignores a subpoena issued by the Administrator, the Administrator may: