Question

Under sec rules establashed by nsmia, an individual that files a registration application will be denied if the applicant has:

Answer 1

The correct answer is: served one (1) year or more in jail.

Step-by-step explanation:

The National Securities Markets Improvement Act (NSMIA) is a U.S. securities regulation law. It aims to give more regulatory power to the federal government. Under this law, people who would like to apply to become securities brokers must not have a prison history as inmates for more than one (1) year. Otherwise, their application will be denied.