DAR File No. 37660

Commerce, Securities

Rule R164-31

Administrative Fines

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 37660
Filed: 05/28/2013 02:15:44 PM

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:

Sections 61-1-6 and 61-1-20 of the Utah Uniform Securities Act (Act) authorize the Utah Securities Commission to impose fines in administrative actions. Section 61-1-24 of the Act permits the Utah Securities Division to make rules as necessary to carry out the requirements of the Act in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking 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:

This rule should continue because it informs the public and licensees of the guidelines used and factors that will be considered by the Utah Securities Commission when imposing fines in administrative actions filed by the Utah Securities Division.

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

Commerce
Securities
HEBER M WELLS BLDG
160 E 300 S
SALT LAKE CITY, UT 84111-2316

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:

05/28/2013