If the administrator revokes a firm's registration, within how many days can the firm request a hearing?

If the administrator revokes a firm's registration, within how many days can the firm request a hearing?

• A. 10 days
• B. 15 days
• C. 30 days
• D. 60 days

Answer: (B)

When an administrator revokes a firm's registration, the law provides a specific timeframe within which the firm can request a hearing. This is designed to ensure that firms have an opportunity to contest the revocation and present their case. In the case of revocations, the requirement is that the firm must request a hearing within 15 days of the revocation notice. This timeframe is crucial because it establishes a clear and prompt process for addressing disputes over administrative actions, promoting fairness and due diligence in regulatory proceedings. Understanding this timeframe is essential for firms, as failing to request a hearing within the specified period may waive their rights to challenge the revocation. This prompt requirement serves to balance the need for regulatory oversight with the rights of firms to contest adverse actions.

When an administrator revokes a firm's registration, the law provides a specific timeframe within which the firm can request a hearing. This is designed to ensure that firms have an opportunity to contest the revocation and present their case.

In the case of revocations, the requirement is that the firm must request a hearing within 15 days of the revocation notice. This timeframe is crucial because it establishes a clear and prompt process for addressing disputes over administrative actions, promoting fairness and due diligence in regulatory proceedings.

Understanding this timeframe is essential for firms, as failing to request a hearing within the specified period may waive their rights to challenge the revocation. This prompt requirement serves to balance the need for regulatory oversight with the rights of firms to contest adverse actions.