Under the Uniform Securities Act, does the Administrator have to provi...

Before issuing a punitive order to deny, suspend, or revoke an application or registration, the Administrator must provide prior notice, written findings of fact/conclusions of law, and an opportunity for a hearing. The Administrator can take two specific actions without first giving notice and an opportunity for a hearing. The cease & desist order can be issued without prior notice, because sometimes the thing that someone is doing or is planning to do is so outrageous the State needs to stop it immediately. Also, the Administrator can, “summarily suspend a registration pending final determination” of the matter. That means until the hearing has been held and the decision has been reached, the license is “summarily suspended.” Some states refer to a summary suspension as a “show-cause order.”