Series 63: Reasons For Disciplining A Broker-Dealer

Reasons for Disciplining a Broker-Dealer

According to the Uniform Securities Act, broker-dealers may be disciplined for the same reasons as investment advisers, if the order is in the public interest. As with investment advisers and their reps, it is not uncommon for disciplinary action against a broker-dealer to contain charges in multiple categories.

Here’s a recap of those twelve situations:

1. 1. Filing Incomplete Applications
2. 2. Willfully Violating State or Federal Securities Regulations, including the Uniform Securities Act
3. 3. Within the Last 10 years, Having Prior Felony Convictions or Securities Related Misdemea