§ 13.1-518. Investigations; confidentiality of information and documents.
A. The Commission may make such investigations within or outside of thisCommonwealth as it deems necessary to determine whether any person hasviolated or is about to violate the provisions of this chapter or any order,rule or injunction of the Commission, and may require any broker-dealer,investment advisor, investment advisor representative, issuer or agentsubject to the investigation to pay the actual costs of the investigation.The Commission shall have power to issue subpoenas and subpoenas duces tecumto require the attendance of any person and the production of any papers forthe purposes of such investigation. No person shall be excused fromtestifying on the ground that his testimony would tend to incriminate him,but if, after asserting his claim of the privilege, he is required totestify, he shall not be prosecuted or penalized on account of anytransactions concerning which he does testify.
B. Information or documents obtained or prepared by any member, subordinateor employee of the Commission in the course of any examination orinvestigation conducted pursuant to the provisions of this chapter shall bedeemed confidential and shall not be disclosed to the public. However,nothing contained herein shall be interpreted to prohibit or limit (i) thepublication of the findings, decisions, orders, judgments or opinions of theCommission; (ii) the use of any such information or documents in proceedingsby or before the Commission or a hearing examiner appointed by theCommission; (iii) the disclosure of any such information or documents to anyquasi-governmental entity substantially associated with law enforcement orthe securities or investment advisory business approved by rule of theCommission; or (iv) the disclosure of any such information or documents toany governmental entity approved by rule of the Commission, or to anyattorney for the Commonwealth, or to the Attorney General of Virginia.
(Code 1950, § 13-134; 1956, c. 428; 1979, c. 379; 1987, c. 678; 1992, c. 157.)
§ 13.1-518. Investigations; confidentiality of information and documents.
A. The Commission may make such investigations within or outside of thisCommonwealth as it deems necessary to determine whether any person hasviolated or is about to violate the provisions of this chapter or any order,rule or injunction of the Commission, and may require any broker-dealer,investment advisor, investment advisor representative, issuer or agentsubject to the investigation to pay the actual costs of the investigation.The Commission shall have power to issue subpoenas and subpoenas duces tecumto require the attendance of any person and the production of any papers forthe purposes of such investigation. No person shall be excused fromtestifying on the ground that his testimony would tend to incriminate him,but if, after asserting his claim of the privilege, he is required totestify, he shall not be prosecuted or penalized on account of anytransactions concerning which he does testify.
B. Information or documents obtained or prepared by any member, subordinateor employee of the Commission in the course of any examination orinvestigation conducted pursuant to the provisions of this chapter shall bedeemed confidential and shall not be disclosed to the public. However,nothing contained herein shall be interpreted to prohibit or limit (i) thepublication of the findings, decisions, orders, judgments or opinions of theCommission; (ii) the use of any such information or documents in proceedingsby or before the Commission or a hearing examiner appointed by theCommission; (iii) the disclosure of any such information or documents to anyquasi-governmental entity substantially associated with law enforcement orthe securities or investment advisory business approved by rule of theCommission; or (iv) the disclosure of any such information or documents toany governmental entity approved by rule of the Commission, or to anyattorney for the Commonwealth, or to the Attorney General of Virginia.
(Code 1950, § 13-134; 1956, c. 428; 1979, c. 379; 1987, c. 678; 1992, c. 157.)
§ 13.1-518. Investigations; confidentiality of information and documents.
A. The Commission may make such investigations within or outside of thisCommonwealth as it deems necessary to determine whether any person hasviolated or is about to violate the provisions of this chapter or any order,rule or injunction of the Commission, and may require any broker-dealer,investment advisor, investment advisor representative, issuer or agentsubject to the investigation to pay the actual costs of the investigation.The Commission shall have power to issue subpoenas and subpoenas duces tecumto require the attendance of any person and the production of any papers forthe purposes of such investigation. No person shall be excused fromtestifying on the ground that his testimony would tend to incriminate him,but if, after asserting his claim of the privilege, he is required totestify, he shall not be prosecuted or penalized on account of anytransactions concerning which he does testify.
B. Information or documents obtained or prepared by any member, subordinateor employee of the Commission in the course of any examination orinvestigation conducted pursuant to the provisions of this chapter shall bedeemed confidential and shall not be disclosed to the public. However,nothing contained herein shall be interpreted to prohibit or limit (i) thepublication of the findings, decisions, orders, judgments or opinions of theCommission; (ii) the use of any such information or documents in proceedingsby or before the Commission or a hearing examiner appointed by theCommission; (iii) the disclosure of any such information or documents to anyquasi-governmental entity substantially associated with law enforcement orthe securities or investment advisory business approved by rule of theCommission; or (iv) the disclosure of any such information or documents toany governmental entity approved by rule of the Commission, or to anyattorney for the Commonwealth, or to the Attorney General of Virginia.
(Code 1950, § 13-134; 1956, c. 428; 1979, c. 379; 1987, c. 678; 1992, c. 157.)
