Commerce, Securities

Rule R164-10

Registration by Qualification

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 36538
Filed: 07/25/2012 09:40:23 AM

NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

Section 61-1-10 of the Utah Uniform Securities Act establishes Registration by Qualification as one of two methods of registering securities offerings in the state of Utah. Section 61-1-24 of the Utah Uniform Securities Act allows the division to make rules necessary to carry out the provisions of the chapter.

Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

No comments have been received.

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

This rule defines key terms, sets forth filing and procedural requirements, and provides a comprehensive disclosure regimen for offerings registered by qualification and should be continued.

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Direct questions regarding this rule to:

• Benjamin Johnson at the above address, by phone at 801-530-6134, by FAX at 801-530-6980, or by Internet E-mail at [email protected]

Authorized by:

Keith Woodwell, Director

Effective:

07/25/2012