Civil & Criminal Procedures Flashcards
7 cards from real Series 66 – Uniform Combined State Law Exam practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Civil & Criminal Procedures flashcards as text
An Administrator wants to deny, suspend, or revoke an agent's registration. Which grounds are valid under the USA?
Answer: Willful violation of the Act, a felony conviction, or a securities-related injunction
Grounds include willful violations, certain convictions, injunctions, fraud, and lack of qualifications.
A firm is subject to an Administrator's order of revocation. How long does the revocation last?
Answer: Until the Administrator or a court modifies it
Revocation continues until modified or set aside by the Administrator or a court.
Which describes a suspension versus a revocation?
Answer: Suspension is temporary (typically up to 12 months); revocation is permanent removal
A suspension lasts for a defined period (up to 12 months in the USA), while revocation ends registration.
What effect does a pending Administrator investigation have on a registrant's withdrawal of registration?
Answer: Withdrawal becomes effective 30 days after filing unless proceedings to revoke or suspend are pending
Withdrawal is effective 30 days after filing unless revocation proceedings began within that window.
An Administrator's order against an adviser includes civil penalties. Where is the power to impose these found?
Answer: Many state statutes grant administrative fines as an enforcement tool
Many states authorize administrative civil penalties, though the model USA relies on cease and desist, suspension, and revocation.
Records gathered by the Administrator during a nonpublic investigation are generally treated how?
Answer: As confidential unless used in proceedings or shared with other regulators
Information obtained in investigations is generally nonpublic, though it may be shared with other agencies.
An agent states in a sales pitch that registration with the Administrator means the state approved the security. What is the result?
Answer: It is unlawful to make that representation
The USA makes it unlawful to represent that registration or exemption indicates approval or merit.
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