Authority of the State Securities Administrator

What this video covers

• The three independent jurisdictional triggers: originated in, directed to, or accepted in, and why physical presence matters more than residency
• Why the administrator's power is quasi-judicial and which remedies (injunctions, jail, restitution, receivership) only a court can grant
• The two-prong test for denying, suspending, or revoking a registration or issuing a stop order: public interest plus a listed statutory ground
• Transactional immunity versus use immunity, and why claiming the privilege against self-incrimination first is the only path to protection
• Cease and desist orders and summary suspensions: why no prior hearing is required for emergency administrative action
• The three critical time periods: 30 days for retroactive stop orders, 15 days to schedule a hearing after a written request, and 10 years for criminal conviction lookback
• The limits of state power over federal covered investment advisers: notice filings, state fees, and anti-fraud authority remain, but registration and fee-setting do not