Bill > SB0094

This bill amends Section 61-1-18.7 of Utah state law to increase the cap on the Securities Investor Education, Training, and Enforcement Fund from $500,000 to $1,000,000. The fund, which is an expendable special revenue fund, receives money from civil penalties, administrative fines, and voluntary settlements related to securities regulations. The fund is used by the division director, with concurrence from the commission and Department of Commerce, to support securities-related education and training for Utah residents, education of registrants and licensees, investigation and litigation, and awards for securities fraud reporting. Under the existing and amended law, if the fund balance exceeds the specified cap at the end of a fiscal year, the excess amount will be transferred to the General Fund. The bill is set to take effect on May 7, 2025, and essentially provides more financial flexibility for securities investor education and enforcement activities by doubling the fund's maximum allowable balance.

https://le.utah.gov/~2025/bills/static/SB0094.html