§ 502A.15 — Administration of chapter

Iowa § 502A.15

• Jurisdiction: Iowa
• Title XII: BUSINESS ENTITIES
• Ch. 502A: COMMODITIES CODE

Text

1. This chapter shall be administered by the administrator of the securities and regulated
industries bureau of the insurance division of the department of insurance and financial
services.
2. The administrator or any employees of the administrator shall not use any information
which is filed with or obtained by the administrator which is not public information for
personal gain or benefit, and the administrator or any employees of the administrator
shall not conduct any securities or commodity dealings based upon any such information,
even though public, if there has not been a sufficient period of time for the securities or
commodity markets to assimilate such information.
3. a. Except as provided in paragraph “b”, all information collected, assembled, or
maintained by the administrator is public information and is available for the examination
of the public as provided by chapter 22.
b. The following are exceptions to paragraph “a” and are confidential:
(1) Informationobtainedinaninvestigationpursuanttosection502A.11,unlesspublished
pursuant to section 502A.11, subsection 2.
(2) Information made confidential by chapter 22.
(3) Information obtained from federal agencies which cannot be disclosed under federal
law.
c. The administrator in the administrator’s discretion may disclose any information made
confidential under paragraph “b” to persons identified in section 502A.16, subsection 1.
d. This chapter does not create or derogate any privilege which exists at common law, by
§502A.15, COMMODITIES CODE 10
statute or otherwise when documentary or other evidence is sought under subpoena directed
to the administrator or any employee of the administrator.