Utah Attorney General Sean Reyes and AG Financial Division Directors to Utah Businesses:
“Proper Government Oversight Can Help Your Business Flourish”
SALT LAKE CITY (April 18, 2015) — Utah Attorney General Commercial Enforcement Division Director Che Arguello and Markets and Financial Fraud Division Director David Sonnenreich joined Attorney General Sean Reyes today in a panel discussion at the Governor’s Economic Summit 2015. The three answered a series of questions about business practices in Utah and how to navigate Utah law to build flourishing businesses.
According to the three, Utah’s close-knit communities, low crime rate, and independent nature can lead to a misperception that government regulation is not necessary and somehow stifles growth. The presentation consisted of Attorney General Reyes moderating a series of questions to Directors Arguello and Sonnenreich and discussing how regulatory oversight levels the playing field for all businesses and leads to greater success for those who play by the rules. Attorney General Reyes said, “We like to keep government out of the way of good business and as minimally invasive as possible. But when government oversight is done correctly and ethically, investors are protected, legitimate businesses flourish, and fraudsters/criminals are held accountable.”
“Our office is always looking for opportunities to discuss how a legal and fair playing field brought about by well designed and implemented regulations helps good businesses succeed well beyond what they would do without any oversight,” said AG Reyes. “These laws are designed to protect consumers, investors and legitimate businesses. When fraudulent practices are allowed to run unchecked or with minimal impediment, no one wins.”
The three discussed the most common red flags seen in investment/white-collar fraud, why this type of fraud occurs, and why it is so prevalent in Utah communities. They also shared ways legitimate businesses can protect their companies from running afoul of administrative and criminal rules/laws and some of the most common problems businesses encounter with government regulators.
Throughout the presentation, Attorney General Reyes, Directors Arguello and Director Sonnenreich mapped out ways for Utah businesses to comply with the law, allowing the economy to prosper in Utah and described how the Utah Attorney General’s Office works consistently and conscientiously towards a legal environment for economic growth.
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Che Arguello David Sonnenreich