June 7, 2024
In light of the closure of the Securities and Exchange Commission regional office in Salt Lake City, many questions have arisen regarding what it means for Utah and the regulation of the state’s financial institutions. The SEC has been a strong partner with the Division over the years both in Salt Lake City and other regional offices. We would like to reassure Utahns that this closure will have little to no effect on the operations of the Utah Division of Securities. The SEC is a federal regulatory agency with authority over the entire United States. The Utah Division of Securities handles similar responsibilities at the state level.
As noted in the press release from the SEC regarding the closure of the Salt Lake Regional Office (SLRO), the SLRO was the smallest office in the country the federal agency ran. Whether from the Salt Lake office or elsewhere, we value the partnership we’ve had with the SEC. The Division will continue to partner closely with the SEC through their Denver Regional Office.
The Utah Division of Securities remains committed to protecting Utah investors all throughout the state. We will continue to focus on the Division’s mission, which is to strengthen trust through investor education, enforcement, and fair regulation. Our operations will continue without interruption. The people of Utah will still be able to verify the licenses of investment professionals, access valuable resources related to investment education, and file complaints through our website at securities.utah.gov. We look forward to continuing to serve Utahns now and well into the future.