Unit 6

Question 1

When recovery funds claimed for EDO what’s the penalty to the broker

Answer 1

No action taking against broker who previously an EDO and followed its instructions. No suspension and no repayment required

Question 2

Procedure for citations?

Answer 2

For licensees who don’t dispute the matter, the citation penalty will become effective (final order) and the case will be close. For licensees who dispute alleged violations it must be done in writing, then an investigation is opened, also applies to licensees who fail to respond to citations

Question 3

Settlement stipulation?

Answer 3

An agreement as to the fact of the case and the penalty reached between the attorneys for the DRE and the licensee or licensees attorney.