Section R331-5-8 - Manipulative and Deceptive Devices(1) In any offer, purchase, or sale in connection with an issuer's offering of its securities, under this rule, no person, directly or indirectly, shall: (a) Employ any device, scheme, or artifice to defraud;(b) Make any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, or make any misleading statement; or(c) Engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.(2) All documents used in connection with an issuer's offering of securities including, but not necessarily limited to, written promotional materials, offering circulars, and reports of financial condition furnished to prospective purchasers must be accurate and contain no material misstatements or omit to state facts necessary in order to make the statement not misleading.(3) No person is authorized to make any statement not contained in the disclosure statement.Utah Admin. Code R331-5-8