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(a) In a civil action or administrative proceeding under this act, a person claiming status as a federally covered security or adviser or an exemption, exception or exclusion from a definition has the burden of proving the availability of the status, exemption, exception or exclusion.
(b) In a proceeding for a criminal violation of this act, a person claiming status as a federally covered security adviser or an exemption, exception or exclusion from a definition has the burden of going forward with evidence of the claim, exemption, exception or exclusion.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 70 P.S. Securities § 1-612. Burden of proof - last updated January 01, 2019 | https://codes.findlaw.com/pa/title-70-ps-securities/pa-st-sect-70-1-612.html
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