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Utah Code Title 51. Public Funds and Accounts § 51-7-22.4. Penalties for violation by certified investment advisers

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) An intentional violation by a certified investment adviser of Section 51-7-7, 51-7-11, or 51-7-11.5, or any rule or order under this chapter is punishable by a civil penalty of:

(a) $1,000 for each day of noncompliance for the investment adviser; and

(b) $5,000 for each day of noncompliance for the firm or institution where the certified investment adviser is employed.

(2) In addition to any other penalty for a criminal violation of this chapter, the sentencing judge may impose any penalty or remedy provided for in Subsection 51-7-22.5(1)(b).

(3) Funds collected under Subsection (1) shall be deposited in the General Fund.

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Cite this article: FindLaw.com - Utah Code Title 51. Public Funds and Accounts § 51-7-22.4. Penalties for violation by certified investment advisers - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-51-public-funds-and-accounts/ut-code-sect-51-7-22-4/

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