Exercise
Answer true or false
1. _____ If a person does not respond to an administrator’s request for information, the administrator can rescind the person.
2. _____ An administrator can issue a cease and desist order without requesting a court injunction.
3. _____ An administrator has the authority to imprison professionals who violate securities regulations.
4. _____ The statute of limitations for civil violations is three years from the date of a violation itself or two years from the date an investor discovers that a violation took place.
5. _____ In the case of a final order that is vacated, all charges and penalties are dropped.
Answers
1. False. In such a case, the administrator can hold the person in contumacy. Only an issuer or securities profession