Commerce, Securities

Rule R164-4

Licensing Requirements

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 36460
Filed: 07/11/2012 08:53:45 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 61-1-4 of the Utah Uniform Securities Act provides licensing and notice filing procedures. Section 61-1-24 provides authority to the Division to make rules necessary to carry out the provisions of the Act.

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 written 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:

The Utah Uniform Securities Act requires that to act as a broker-dealer, broker-dealer agent, issuer agent, investment adviser, or as an investment adviser representative, a person or entity must be appropriately licensed. Rule R164-4 describes the procedures and requirements for obtaining the appropriate licenses 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:

• Charles Lyons at the above address, by phone at 801-530-6940, by FAX at 801-530-6980, or by Internet E-mail at clyons@utah.gov
• Keith Woodwell at the above address, by phone at 801-530-6606, by FAX at 801-530-6980, or by Internet E-mail at kwoodwell@utah.gov

Authorized by:

Keith Woodwell, Director

Effective:

07/11/2012