Utah Code 61-1-31. Determining amount of fine

For the purpose of determining the amount of a fine imposed under this chapter, the commission or court shall consider the following factors:

(1)	the seriousness, nature, circumstances, extent, and persistence of the conduct constituting the violation;

Commission: means the Securities Commission created in Section 61-1-18. See Utah Code 61-1-13
Division: means the Division of Securities established by Section 61-1-18. See Utah Code 61-1-13
Person: means :

(i)	an individual;

(ii)	a corporation;

(iii)

a partnership;

(iv)	a limited liability company;

(v)	an association;

(vi)	a joint-stock company;

(vii)

a joint venture;

(viii)

a trust where the interests of the beneficiaries are evidenced by a security;

(ix)	an unincorporated organization;

(x)	a government; or

(xi)

a political subdivision of a government. See Utah Code 61-1-13

Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.

Undue influence: means that a person uses a relationship or position of authority, trust, or confidence:

(i)

that is unrelated to a relationship created:

(A)	in the ordinary course of making investments regulated under this chapter; or

(B)	by a licensee providing services under this chapter;

(ii)

that results in:

(A)	an investor perceiving the person as having heightened credibility, personal trustworthiness, or dependability; or

(B)	the person having special access to or control of an investor's financial resources, information, or circumstances; and

(iii)

to:

(A)	exploit the trust, dependence, or fear of the investor;

(B)	knowingly assist or cause another to exploit the trust, dependence, or fear of the investor; or

(C)	gain control deceptively over the decision making of the investor. See Utah Code 61-1-13 Vulnerable adult: means the same as that term is defined in Section 26B-6-201. See Utah Code 61-1-13
(2)	the harm to other persons resulting either directly or indirectly from the violation;

(3)

(a)	the cooperation by the person in any inquiry conducted by the division concerning the violation;

(b)	efforts by the person to prevent future occurrences of the violation; and

(c)	efforts by the person to mitigate the harm caused by the violation, including any disgorgement or restitution made to other persons injured by the acts of the person;

(4)	the history of previous violations by the person;

(5)	the need to deter the person or other persons from committing the violation in the future;

(6)	whether the person exercised undue influence;

(7)	whether the person knew or should have known that the investor was a vulnerable adult;

(8)	any direct or indirect compensation or economic benefit the person committing the violation received; and

(9)	such other matters as justice may require.

Amended by Chapter 77, 2020 General Session