Commerce, Securities

Rule R164-6

Denial, Suspension or Revocation of a License

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 36462
Filed: 07/11/2012 08:56:10 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 61-1-6 of the Utah Uniform Securities Act sets forth grounds upon which the Division may discipline a licensee. Section 61-1-24 of the Act provides authority for the Division to make rules 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 grounds for taking disciplinary action under Section 61-1-6 of the Act include engaging in "dishonest or unethical practices in the securities business." Rule R164-6 assists the public and courts in interpreting "dishonest or unethical practices" by identifying specific acts deemed to be dishonest or unethical 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