Series 63: 3.3.1. Authority Of The Administrator

3.3.1. Authority of the Administrator

One of the most important responsibilities held by a state securities administrator is to coordinate with other state and federal regulators. This expectation underlies all others, with state administrators expected to look beyond the interests of their own states. With this in mind, a state securities administrator is charged with the following duties:

• Initiate investigations of potential securities violations involving residents of its state, as well as securities issued or transacted in its state

• Collect evidence needed to proceed with investigations

• Issue subpoenas requiring people to testify under oath before the administrator’s staff

• Request courts and law enforcement to pursue