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March 4, 2026

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Last updated: March 4, 2026

Home  ›  Series 63  ›  Which Administrative order is more severe, a cancellation, or a revoca...

Which Administrative order is more severe, a cancellation, or a revoca...

Question: Which Administrative order is more severe, a cancellation, or a revocation? A friend of mine saw something like that on the exam.

By: Securities Institute Staff
Instructor
SIA Instructor Verified SIA Instructor
2 hours ago

The word “cancellation” has a serious and final connotation to it, which is what makes it a good false answer to such a question. A cancellation order, like a withdrawal order, is not a punitive order.  The Administrator cancels a registration if the registrant dies, is declared mentally incompetent, or cannot be located. The most severe punitive order the Administrator issues is an order of revocation.

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