Series 63: Authority Of The Administrator

Authority of the Administrator

While a state’s securities administrator has a large amount of power, one of the role’s highest responsibilities is to coordinate with other state and federal regulators. This expectation underlies all others, with state administrators expected to not act in a way that only benefits their state. With this in mind, a state securities administrator is charged with the following duties:

• • Initiate investigations of potential securities violations involving residents of her state, as well as securities issued or transacted in her state
• • Collect evidence needed to proceed with investigations
• • Issue subpoenas requiring people to testify under oath before the administrator’s staff
• • Request courts and