No. 36540 (5-year Review): Rule R164-12. Sales Commission

DAR File No.: 36540
Filed: 07/25/2012 09:42:27 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:

Section 61-1-24 of the Utah Uniform Securities Act allows the division to make rules necessary to carry out the provisions of the chapter.

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:

As a protection for investors, this rule limits the amount of commission-related compensation that can be paid in connection with a public offering 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:

• Benjamin Johnson at the above address, by phone at 801-530-6134, by FAX at 801-530-6980, or by Internet E-mail at [e-mail]

Authorized by:

Keith Woodwell, Director

Effective:

07/25/2012

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