DAR File No. 30261

Commerce, Securities

R164-6

Denial, Suspension or Revocation of a License

FIVE-YEAR NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

DAR File No.: 30261
Filed: 07/30/2007, 02:53
Received by: NL

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 director may discipline a licensee. Section 61-1-24 of the Act provides that the division may 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 justifications 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 identifies specific acts which are deemed to be dishonest and unethical business practices, 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:

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

Authorized by:

Wayne Klein, Director