2019 Nevada Revised Statutes
Chapter 645H - Asset Management Companies and Asset Managers
NRS 645H.705 - Administrative fine for engaging in certain conduct without certificate of registration, permit or other authorization; procedure for imposition of fine; judicial review; exceptions.
1. In addition to any other remedy or penalty, the Division may impose an administrative fine against any person who knowingly:
(a) Engages or offers to engage in any activity for which a certificate of registration or permit or any other authorization is required pursuant to this chapter, or any regulation adopted pursuant thereto, if the person does not hold the required certificate of registration or permit or has not received the required authorization; or
(b) Assists or offers to assist another person in the commission of a violation described in paragraph (a).
2. If the Division imposes an administrative fine against a person pursuant to this section, the amount of the administrative fine must not exceed the amount of any gain or economic benefit that the person derived from the violation or $5,000, whichever is greater.
3. In determining the appropriate amount of the administrative fine, the Division shall consider:
(a) The severity of the violation and the degree of any harm that the violation caused to other persons;
(b) The nature and amount of any gain or economic benefit that the person derived from the violation;
(c) The person’s history or record of other violations; and
(d) Any other facts or circumstances that the Division deems to be relevant.
4. Before the Division may impose the administrative fine, the Division must provide the person with notice and an opportunity to be heard.
5. The person is entitled to judicial review of the decision of the Division in the manner provided by chapter 233B of NRS.
6. The provisions of this section do not apply to a person who engages or offers to engage in activities within the provisions of this chapter if:
(a) A specific statute exempts the person from complying with the provisions of this chapter with regard to those activities; and
(b) The person is acting in accordance with the exemption while engaging or offering to engage in those activities.
(Added to NRS by 2011, 2821) — (Substituted in revision for NRS 645H.340)
