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andriy [413]
3 years ago
6

XYZ Advisers is a federal covered adviser with an office in State A. It has 400 clients in State A; 6 clients in State B; and 3

clients in State C. A customer in State C files a complaint with that State's Administrator alleging that XYZ adviser made misleading statements. Which State Administrator(s) has the authority to revoke XYZ Adviser's registration
Business
1 answer:
Stels [109]3 years ago
8 0

Answer:

None of the states.

Explanation:

Since XYZ Advisers is a federal covered adviser, it implies that it is registered with the Security and Exchange Commission (SEC) but not registered with any of the states. Therefore, only the SEC has its registration that it can revoke.

However, it is compulsory for the XYZ Advisers or any other adviser carrying out a business in any state to notify the State in which it is carrying out a business. This is to enable the relevant State to carry out an investigation and issue an order against the adviser whenever the the Administrator of a State received a complaint against a federal covered adviser. But the state still does not have the registration of the federal covered adviser it can revoke.

Therefore, none of the State Administrator(s) has the authority to revoke XYZ Adviser's registration.

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The Wagner Act, sponsored by New York's Democratic senator Robert F. Wagner, made the federal government the exclusive arbiter and regulator of labor relations. It established the National Labor Relations Board (NLRB), a permanent body of three members (later expanded to five), with the authority to hear and decide labor disputes through quasi-judicial processes.

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