Utah Admin. Code R628-15-4 - Definitions
A. The following
terms are defined in Section
51-7-3 of
the Act, and when used in this rule, have the same meaning as in the Act:
1. "Certified investment adviser";
2. "Council";
3. "Director";
4. "Public treasurer";
5. "Investment adviser representative";
and
6. "Certified
dealer".
B. For purposes
of this rule the following terms are defined:
1. "Investment adviser" means either a
federal covered adviser as defined in Section
61-1-13 or
an investment adviser as defined in Section 61-1-13.
2. "Realized rate of return" means yield
calculated by combining interest earned, discounts accreted and premiums
amortized, plus any gains or losses realized during the month, less all fees,
divided by the average daily balance during the reporting period. The realized
return should then be annualized.
3. "Soft dollar" means the value of research
services and other benefits, whether tangible or intangible, provided to a
certified investment adviser in exchange for the certified investment adviser's
business.
4. "Approved list of
brokers and dealers" means broker-dealers approved by a certified investment
adviser to transact business on a public treasurer's account regardless of
status as a certified dealer.
Notes
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