Series 66 Chapter 5: Enforcement of Rules Flashcards
When do administrators have authority?
When the trade or offering originates from the state or is being directed to the clients in the state.
Who has authority over radio or television broadcasts?
The administrator where message originated
If ___ of the circulation is is outside the state, the administrator does not have authority.
2/3
Where must a rep be registered if sending emails?
In all states that emails are delivered.
Can a rep participate in a chat room?
Yes, but only if they do not make any recommendations.
What can an administrator do if they feel someone has committed or is about to commit a violation?
Send a cease and desist
What is contumancy?
Standing in Contempt of an administrator’s order.
An administrator may only ______, ______, or ______ a person’s registration.
Deny, suspend, revoke
Penalties refer to_______?
Imprisonment.
Liabilities refer to_________?
fines
Maximum criminal punishment?
$5m and/or 3 years in prison per violation.
Statue of limitations for criminal penalties?
5 years from occurrence of violation
Maximum civil penalty?
full purchase price, interest, legal fees less any income earned from investment
State of limitations on civil liability?
3 years from occurrence or 2 years from discovery of violation
An admission of guilt when a person realizes that he has committed a violation?
Letter of Rescission
