Department of Commerce. Division of Securities

Entity: 871
Entity Type: State Government

Abstract

The State Securities Commission was created in 1919 by law. The duty of the commission was to administer and provide for the enforcement of the provisions of an act to prevent fraud in the sale and disposition of stocks, bonds, and other securities sold or offered for sale in the State of Utah.

Biography/History Notes

"Strives to assure that Utah's investors are adequately protected and informed about the stock market. The Division of Securities investigates complaints, licenses securities professionals, and registers securities offerings to ensure full public disclosure in the marketplace. The division also cooperates with other states and coordinates federal regulations."__(From "Capitol Connections" newsletter, volume 1, issue 12, April 1994, page 4.)??Administers the Utah Uniform Security Act relating to registration of Securities, issuers, etc. Succeeds the Securities Commission.

The Division of Securities is administered by a division director appointed by the executive director of the Department of Commerce with the approval of the Governor.

The original legislation (1919) provided that the State Securities Commission be composed of the Secretary of State, the Bank Commissioner, and the Attorney General. The Secretary of State was designated the State Commissioner of Securities.?Became a division within the Department of Business Regulation (now the Department of Commerce) in 1983.

Hierarchy

Department of Commerce
Division of Securities