(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:

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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
     (1)(a) $1,000 for each day of noncompliance for the investment adviser; and
     (1)(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.