Denial, Revocation, Suspension, Cancellation, and Withdrawal
Chapters in this video
- 0:00 Stan's ban hammer and the two-part test
- 1:52 The DUI trap: felonies, misdemeanors, and the ten-year lookback
- 3:54 Aaron's beanie baby insolvency: personal insolvency as grounds
- 4:30 Due process, summary orders, and the three-step sequence
- 5:24 Cancellation versus revocation: administrative versus disciplinary
- 6:10 The two 30-day rules: withdrawal and the escape window
- 7:00 Rapid-fire exam recap
What this video covers
- The two conditions Stan must meet before acting: public interest plus a specified legal ground, never one without the other
- Why a DUI is NOT grounds for discipline, but any felony within the past ten years IS, regardless of whether it involves securities
- The ten-year lookback for criminal convictions and prior regulatory adjudications, and why securities-related misdemeanors count while non-securities misdemeanors do not
- Why an agent's personal insolvency is grounds for action but a broker-dealer or investment adviser firm cannot be sanctioned solely because a partner or officer is insolvent
- The three-step due process sequence, and when a summary order lets the administrator skip straight to immediate suspension
- Why cancellation is non-punitive administrative cleanup while revocation is a disciplinary black mark on Form U4
- The two 30-day rules: withdrawal becomes effective in 30 days unless a proceeding intervenes, and the administrator has 30 days after registration becomes effective to act on pre-existing known facts
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