Series 63 practice questionmediumCriminal Penalties — Statute of Limitations
Under the Uniform Securities Act, the statute of limitations for criminal prosecution of a willful violation is:
- A1 year from the date of the violation
- B5 years from the date of the violation✓ Correct answer
- C3 years from the date of the violation
- DThere is no statute of limitations for securities crimes
Explanation
Why B — 5 years from the date of the violation
The optional limitations sentence in USA Section 409(a) bars an indictment or information more than five years after the alleged violation. The limitation runs from the violation, not discovery.
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