Authority: IC 23-19-6-1

Affected: IC 23-19-4-12; IC 23-19-6-4

Sec. 4. In certain situations, several violations may have been committed. Separate violations may be grouped for the purpose of applying this policy. The total fine or civil penalty assessed in an enforcement case may include penalties for several violations or groups of violations, each calculated under this policy.

(Securities Division; 710 IAC 6-2-4; filed Jan 12, 2026, 4:22 p.m.: 20260211-IR-710250231FRA)