Rule R164-31. Administrative Fines.

As in effect on August 1, 2009

Table of Contents

• R164-31-1. Guidelines for the Assessment of Administrative Fines.
• KEY
• Date of Enactment or Last Substantive Amendment
• Authorizing, Implemented, or Interpreted Law

R164-31-1. Guidelines for the Assessment of Administrative Fines.

(A) Authority and purpose.

(1) The Division enacts this rule under authority granted by Sections 61-1-6, 61-1-12, 61-1-14, 61-1- 20 and 61-1-24.

(2) This rule identifies guidelines for the assessment of administrative fines. The guidelines should not be considered all-inclusive but rather are intended to provide factors to be considered when imposing a fine.

(B) Guidelines.

(1) For the purpose of determining the amount of an administrative fine assessed against a person under the Utah Uniform Securities Act, the Division Director shall consider the following factors:

(a) the seriousness, nature, circumstances, extent, and persistence of the conduct constituting the violation;

(b) the harm to other persons resulting either directly or indirectly from the violation;

(c) cooperation by the person in any inquiry conducted by the Division concerning the violation, efforts to prevent future occurrences of the violation, and efforts to mitigate the harm caused by the violation, including any restitution made to other persons injured by the acts of the person;

(d) the history of previous violations by the person;

(e) the need to deter the person or other persons from committing such violations in the future; and

(f) such other matters as justice may require.

KEY

administrative fines, securities regulation, securities

Date of Enactment or Last Substantive Amendment

August 26, 2008

Authorizing, Implemented, or Interpreted Law

61-1-6; 61-1-12; 61-1-14; 61-1-20; 61-1-24