Series 63 practice questionmediumCriminal Penalties—Statute of Limitations
Which of the following best describes the statute of limitations for criminal prosecution under the USA?
- A5 years from commission of violation✓ Correct answer
- B2 years from discovery, but not more than 5 years from the violation
- C3 years from commission or 2 years from discovery
- DThere is no time limit for criminal prosecution under the USA
Explanation
Why A — 5 years from commission of violation
The statute of limitations for criminal prosecution is 5 years from the date of violation (Section 409). Option B is incorrect as the criminal statute does not include a 2-year discovery limit.
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