Question

The Uniform Securities Act permits the Administrator to do all of the following EXCEPT
A) conduct an investigation until proof of wrongdoing is established
B) suspend an agent's registration without an opportunity for a hearing
C) conduct investigations involving dealers doing business in his state but domiciled in another state
D) have subpoenas issued to individuals outside the state

Answer 1

Answer: Option (B)

Explanation:

From the given options, we can state that Uniform Securities Act allow their administrator to conduct an investigation and also submit a subpoena but doesn't allow to suspend or revoke an agent's registration. The clauses and instructions laid under the  Uniform Securities Act, it does not allow neither any suspension nor any revocation to take place before there is an official hearing.