No. 41886 (5-year Review): Rule R164-4. Licensing Requirements

DAR File No.: 41886
Filed: 07/03/2017 08:38:39 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:

This rule is authorized by Section 61-1-4 and Subsection 61-1-24(1)(a) of the Utah Uniform Securities Act. Subsection 61-1-24(1)(a) authorizes the Division to make, amend, or rescind a rule when necessary to carry out the chapter. Section 61-1-4 of the Act provides general licensing and notice filing procedures and authorizes the Division to augment those requirements by rule or order.

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 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 Utah Uniform Securities Act requires that to act as a broker-dealer, broker-dealer agent, issuer agent, investment adviser, or investment adviser representative, a person or entity must be appropriately licensed. Rule R164-4 describes the procedures and requirements for obtaining the appropriate licenses. Therefore, this rule should be continued.

The full text of this rule may be inspected, during regular business hours, at the Office 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 [e-mail]
• Keith Woodwell at the above address, by phone at 801-530-6606, by FAX at 801-530-6980, or by Internet E-mail at [e-mail]

Effective:

07/03/2017

Authorized by:

Keith Woodwell, Director

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