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Utah Code § 61-1-31

Determining amount of fine

Known as the Utah Uniform Securities Act

The act spans §§ 61-1-1 to 61-1-9 (58 sections).

Amended by Chapter 77, 2020 General Session

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;

(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.

Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.