Denial, Suspension, and Revocation of Registration of Persons
Chapters in this video
- 0:00 The two-prong test: public interest plus statutory ground
- 1:57 Willful violations and the intent-not-evil-motive rule
- 3:03 Insolvency: personal versus firm liability trap
- 3:47 Criminal convictions: ten-year lookback and felony versus misdemeanor
- 4:49 Summary suspension and the 15-day hearing request deadline
- 5:52 Cancellation versus withdrawal: administrative versus voluntary
- 6:39 Withdrawal freeze and one-year jurisdiction retention
- 7:19 Rapid-fire exam recap
What this video covers
- The two-prong test for any administrator order: public interest plus at least one specific statutory ground, never either alone
- The 11 statutory grounds including willful violation, criminal conviction lookback, injunction, prior order, insolvency, and failure to supervise
- Why "willful" on the Series 63 means intentional action, not evil motive or intent to break the law
- How personal insolvency of an agent or investment adviser representative (IAR) differs from firm insolvency for broker-dealer (BD) and investment adviser (IA) discipline
- The ten-year lookback for criminal convictions and the distinction between any felony versus securities-related misdemeanors
- Why filing fee nonpayment supports only denial, not suspension or revocation, and must be vacated upon payment
- Summary suspension mechanics: immediate effect, then 15 days for the registrant to request a hearing
- Cancellation versus withdrawal: administrative housekeeping versus voluntary exit, plus the one-year jurisdiction retention period and 30-day effective window for withdrawal
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. When you're ready to drill the topic, the full Series 63 course adds adaptive practice questions and spaced-repetition flashcards.