| (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:
Terms Used In Utah Code 51-7-22.4- Certified investment adviser: means a federal covered adviser, as defined in Section 61-1-13, or an investment adviser, as defined in Section 61-1-13, who is certified by the director as having met the applicable criteria of council rule. See Utah Code 51-7-3
| (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. |
Amended by Chapter 322, 2007 General Session
