Administrative enforcement

(a) Issuance of an order or notice. If the director determines that a person has engaged, is engaging, or is about to engage in an act, practice, or course of business constituting a violation of this chapter or a rule adopted or order issued under this chapter or that a person has materially aided, is materially aiding, or is about to materially aid an act, practice, or course of business constituting a violation of this chapter or a rule adopted or order issued under this chapter, the director may: (1) Issue an order directing the person to cease and desist from engaging in the act, practice, or course of business or to take other action necessary or appropriate to comply with this chapter; (2) Issue an order denying, suspending, revoking, or conditioning the exemptions for a broker - dealer under § 47-31B-401(b)(1)(D) or (F) or an investment adviser under § 47-31B-403(b)(1)(C); or (3) Issue an order under §