Under which of the following circumstances can an administrator initiate a suspension or revocation proceeding against a brokerAn Administrator may initiate suspension proceedings against a broker-dealer on discovering that its registration has been suspended in another state and on conviction of a violation of the Securities Exchange Act of 1934.
What is the purpose of the Uniform Securities Act?The Uniform Securities Act (USA) provides basic investor protection from securities fraud, complementing the federal Securities and Exchange Act. The act only applies to securities not regulated by the Securities and Exchange Commission.
Which of the following are defined as a security under the Uniform Securities Act?A "security" is defined as an investment in a common enterprise for profit with management provided by another party (that would be a "third" party). Generally, securities do not have a guaranteed rate of return.
Which of the following securities are exempt under the Uniform Securities Act?Under Uniform State Law, securities issued by public utilities regulated under the Public Utility Holding Act of 1935 are exempt securities. While bank, and savings and loan issues, are exempt, securities issued by bank holding companies are not.
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