the Uniform Securities Law, broker-dealers are
required to sign a consent to service of process.
Filing such a consent means that:
a) The individual may not be required to give self-incriminating testimony in the event of a proceeding.
b) The Administrator is permitted to assess fines or other penalties in the event of a violation of the Act.
c) The Administrator is empowered to receive suits on behalf of the individual.
d) The individual is under the jurisdiction of the Administrator for up to a year after registration is withdrawn.
The correct answer is c.
The consent to service of process appoints the Administrator as attorney in the event of any lawsuits that may be filed. This ensures that the individual cannot be sued for a securities related violation without the Administrator knowing about it. Once the Administrator receives such a suit, the individual is promptly notified of the suit.
First, calculate the net gains/losses under each probability. At 50, the value is: cost of the spread ($1 x 100 share put) ...
The correct answer is: a) The guiding principle behind Standard VI-B is to take care of clients first, and only after the ...
The correct answer is: b) The reason choice I is true is because during a recession, corporate earnings will generally fall ...
The correct answer is: d) 2005 CFA Level 1 LOS: 3.1.B.m
A examination to ensure a candidate is qualified to become a ...
A person who prepares investigative reports on equity securities. ...
An exam required for individuals seeking to engage in off-exchange ...
One who provides financial advice or guidance to customers for ...
An exam offered by the Financial Industry Regulatory Authority ...
An exam given by the Financial Industry Regulatory Authority ...