Utah Code 61-1-102. Definitions

As used in this part:

(1)

“Adverse action” means to:

Allegation: something that someone says happened.
Commission: means the Securities Commission created in Section 61-1-18. See Utah Code 61-1-13
Contract: A legal written agreement that becomes binding when signed.
Division: means the Division of Securities established by Section 61-1-18. See Utah Code 61-1-13
Employee: means an individual who performs a service for wages or other remuneration under a contract of hire, written or oral, express or implied. See Utah Code 61-1-102
Fund: means the Securities Investor Education, Training, and Enforcement Fund created in Section 61-1-18. See Utah Code 61-1-102
Monetary sanction: means money required to be paid under this chapter as the result of a judicial or administrative action, including a penalty or disgorgement. See Utah Code 61-1-102
Original information: means information that is:

(a)	derived from the independent knowledge or analysis of an individual;

(b)	not known to the division or commission from a source other than the individual; and

(c)

unless the individual is the source of the information, not exclusively derived from:

(i)	an allegation made in a judicial or administrative hearing;

(ii)	a government report, hearing, audit, or investigation; or

(iii)	the media. See Utah Code 61-1-102
(a)	discharge, threaten, or directly or indirectly harass an employee; or

(b)

otherwise discriminate against an employee in any manner that affects the employee’s employment, including:

(i)	compensation;

(ii)

terms;

(iii)

conditions;

(iv)

location;

(v)

rights;

(vi)	immunities;

(vii)

promotions; or

(viii)

privileges.

(2)	“Covered judicial or administrative action” means a judicial or administrative action brought under this chapter that results in a monetary sanction exceeding $50,000.

(3)	“Employee” means an individual who performs a service for wages or other remuneration under a contract of hire, written or oral, express or implied.

(4)	“Fund” means the Securities Investor Education, Training, and Enforcement Fund created in Section 61-1-18.7.

(5)

“Original information” means information that is:

(a)	derived from the independent knowledge or analysis of an individual;

(b)	not known to the division or commission from a source other than the individual; and

(c)

unless the individual is the source of the information, not exclusively derived from:

(i)	an allegation made in a judicial or administrative hearing;

(ii)	a government report, hearing, audit, or investigation; or

(iii)

the media.

(6)	“Monetary sanction” means money required to be paid under this chapter as the result of a judicial or administrative action, including a penalty or disgorgement.

(7)	“Reporter” means an individual who provides original information relating to a violation in accordance with Section 61-1-103.

Enacted by Chapter 318, 2011 General Session