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← Series 63: Remedies & Administrative Provisions
Series 63 practice questioneasyJurisdiction over actions originating in other states

When does the Administrator of State Y have jurisdiction over a securities-related violation that originated in State X?

  1. AIf an offer originates in State Y, is directed to and received in State Y, or is accepted there as Section 414 defines✓ Correct answer
  2. BOnly if both parties are residents of State Y.
  3. COnly if the violation originated and was completed in State Y.
  4. DIf the Administrator in State X surrenders jurisdiction to State Y.
Explanation

Why A — If an offer originates in State Y, is directed to and received in State Y, or is accepted there as Section 414 defines

USA Section 414 defines jurisdiction through where an offer originates, is directed and received, or is accepted, together with specified in-state acts for advisory conduct. A vague claim that a transaction had 'any effect' in the state is not the statutory test.

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