Utah Administrative Code
Topic - Commerce
Title R164 - Securities
Rule R164-1 - Fraudulent Practices of Broker-Dealers, Broker-Dealer Agents, and Issuer-Agents
Section R164-1-1 - Authority and Purpose

Universal Citation: UT Admin Code R 164-1-1

Current through Bulletin 2024-18, September 15, 2024

(1) The division enacts this rule under authority granted by Subsection 61-1-1(3) and Section 61-1-24.

(2) This rule identifies practices by broker-dealers, broker-dealer agents, or issuer-agents which are generally associated with schemes to manipulate the securities markets.

(3) A broker-dealer, broker-dealer agent, or issuer-agent who engages in one or more of the practices listed in Section R164-1-4 will be deemed to have engaged in an "act, practice or course of business which operates or would operate as a fraud" as used in Subsection 61-1-1(3).

(4) This rule is not intended to be all-inclusive. Thus, acts or practices not listed may also be deemed fraudulent.

(5) This rule does not preclude application of the anti-fraud provisions of Subsection 61-1-1(3) against anyone for practices similar in nature to the practices listed in Section R164-1-4.

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