R333-5-1. Authority, Scope, and Purpose

(1) This rule is issued pursuant to Subsection 7-1-301(3)(a) and Section 7-3-3.2. (2) This rule governs the type of securities brokerage service state chartered banks may offer. (3) The purpose of this rule is to limit securities activities to "discount brokerage" services and to give state chartered banks competitive equality with national banks which have their principal office in this state by granting the same rights and privileges to state chartered banks as are enjoyed by Utah's national banks.