Denial, Revocation, Suspension, Cancellation, and Withdrawal

What this video covers

• The three procedural safeguards the state administrator must follow before taking action against a broker-dealer (prior notice, opportunity for a hearing, and the public interest standard)
• The 10-year lookback period for felony and securities-related misdemeanor convictions, and why non-securities misdemeanors are not grounds for denial or revocation
• The complete list of grounds for administrator action, including filing deficiencies, court injunctions, willful Uniform Securities Act violations, dishonest or unethical conduct, insolvency, lack of qualifications, and failure to supervise
• The 30-day rule: when it bars proceedings based solely on pre-registration known facts, and the three scenarios where the bar does not apply (discovery after registration, mixed basis, and renewal registrations)
• Why cancellation is non-punitive administrative cleanup for a missing or dissolved firm, while revocation is punitive disciplinary action for actual misconduct
• Why a broker-dealer cannot use voluntary withdrawal to escape an incoming enforcement proceeding, and that withdrawal becomes effective 30 days after filing
• The emergency exception that lets the administrator act first and provide notice afterward