Securities Investor Education, Training, and Enforcement Fund Amendments, the official text

Securities Investor Education, Training, and Enforcement Fund Amendments
2026 GENERAL SESSION
STATE OF UTAH
Chief Sponsor: Michael K. McKell
House Sponsor: David Shallenberger

LONG TITLE
General Description:
This bill increases the cap limit on the Securities Investor Education, Training, and Enforcement Fund.
Highlighted Provisions:
This bill: increases the cap limit on the Securities Investor Education, Training, and Enforcement Fund from $500,000 to $1,000,000; and
makes technical changes.

Money Appropriated in this Bill: None Other Special Clauses: None Utah Code Sections Affected: AMENDS:
61-1-18.7, as last amended by Laws of Utah 2013, Chapter 400

Be it enacted by the Legislature of the state of Utah:
Section 1. Section 61-1-18.7 is amended to read:
61-1-18.7. Funding of securities investor education, training, and enforcement.
(1) (a) There is created an expendable special revenue fund known as the "Securities Investor Education, Training, and Enforcement Fund" to provide revenue for the purposes stated in this section.
(b) [For purposes of] As used in this section, "fund" means the Securities Investor Education, Training, and Enforcement Fund.

(2) [Money] The state shall deposit money received by the state by reason of civil penalties ordered and administrative fines collected [pursuant to] in accordance with this chapter [shall be deposited in] into the fund, and is subject to the requirements of Title 51, Chapter 5, Funds Consolidation Act.
(3) [A] The division shall deposit a fine collected by the division after July 1, 1989, [pursuant to] in accordance with a voluntary settlement or administrative order [shall be deposited]into the fund.
(4) (a) The fund shall earn interest.
(b) [Interest] The division shall deposit interest earned on fund money [shall be deposited]into the fund.

(5) Notwithstanding Title 63J, Chapter 1, Budgetary Procedures Act, the director may use money in the fund, upon concurrence of the commission and the executive director of the Department of Commerce, in a manner consistent with the duties of the division and commission under this chapter and only for any or all of the following and the expense of providing [them] the following: (a) education and training of Utah residents in matters concerning securities laws and investment decisions, by publications or presentations;
(b) education of registrants and licensees under this chapter, by: (i) publication of this chapter and rules and policy statements and opinion letters issued under this chapter; and
(ii) sponsorship of seminars or meetings to educate registrants and licensees as to the requirements of this chapter;

(c) investigation and litigation; and
(d) to pay an award to a reporter as provided in Part 1, Securities Fraud Reporting Program Act.

(6) If the balance in the fund exceeds [$500,000] $1,000,000 at the close of any fiscal year, the division shall transfer the excess [shall be transferred]to the General Fund.

Section 2. Effective Date.
This bill takes effect on May 6, 2026.

3-6-26 12:07 PM