Utah investors have rights and protections under numerous laws and regulations.
The Utah Uniform Securities Act (UUSA) is the state law that protects investors and regulates the sale of securities in Utah. It is administered by the Utah Division of Securities, which is part of the Utah Department of Commerce.
The UUSA requires that all securities offered for sale in Utah be registered with the Division of Securities, unless the securities or transactions are exempt. Exempt securities include:
Securities issued by the United States or the state of Utah
Securities issued by certain banks and other financial institutions
Securities offered in certain private transactions
The UUSA is designed to protect investors from fraud and to ensure that investors have access to accurate information about the securities they are considering purchasing.
Here are some of the key provisions of the UUSA:
Registration of broker-dealers, agents, and investment advisers: All broker-dealers, agents, and investment advisers who offer or sell securities in Utah must be registered with the Division of Securities.
Anti-fraud provisions: The UUSA prohibits fraud and other unfair practices in the sale of securities.
Enforcement: The Division of Securities is responsible for enforcing the UUSA. The Division can investigate alleged violations of the law and take enforcement actions, such as issuing cease-and-desist orders and imposing fines.
Utah investors also have legal rights and protections under the following federal laws and regulations.
If you have any questions about state or federal securities laws in Utah, contact our law firm to discuss.