59-1-1308 - Material advisor penalties. - Utah Statutes

59-1-1308. Material advisor penalties.
(1) The penalty for failure of a material advisor to disclose a reportable transaction asrequired by Section 59-1-1306 is $20,000.
(2) If a material advisor that is required to disclose a reportable transaction in accordancewith Section 59-1-1306 provides false or incomplete information to the commission, the penaltyis $20,000.
(3) If a material advisor that is required to maintain a list under Section 59-1-1307 failsto make that list available to the commission within a 20-day period after the day on which thecommission mails a written request for that list, the material advisor is subject to a penalty of$10,000 for each day that the material advisor fails to make that list available to the commissionafter the expiration of the 20-day period.
(4) A penalty imposed by this section is in addition to any other penalty imposed by thistitle.

Enacted by Chapter 237, 2006 General Session