California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 1 - General Provisions
Article 1 - Administration
Section 250.10 - Requests for Confidentiality

Universal Citation: 10 CA Code of Regs 250.10

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) Policy. Upon request pursuant to Subsection (b), the Commissioner will withhold from public inspection pursuant to Section 6254 of the Government Code (and Sections 25605 or 31504 of the Corporations Code, if applicable) for such time as in the Commissioner's judgment is necessary information received in connection with an application (including applications for interpretive opinions) or report, if in the opinion of the Commissioner the public inspection of such information is not necessary in the public interest or for the purposes of the law under which it is filed and such information is reasonably shown to meet any of the following requirements:

(1) Information which is of a proprietary business nature and is in fact confidential, including but not limited to trade secrets.

(2) Information which is of a confidential business nature and which is in fact confidential, the release of which would be damaging or prejudicial to the business concerned.

(3) The name of any present or proposed investor when such information is filed in an application pursuant to Section 25113, 25121 or 25133 of the Corporations Code, if the disclosure of such information may be damaging or prejudicial to such person.

(4) Any other information, upon a showing that a public interest is served in withholding such information.

(b) Requests for Confidentiality. A request for confidential treatment of any information received in connection with any application or report submitted to the Commissioner should accompany the submission of such information and such information must be submitted separated from the other parts of the filing and marked "Confidential Treatment Requested." Such request must be signed by the person making the application or report and contain the following:

(1) A statement identifying the information which is the subject of the request and the application or report relating thereto.

(2) A statement specifying the provisions of Subsection (a) pursuant to which the request is made.

(3) A statement of the grounds upon which the request is made, including (if applicable) a statement as to its confidentiality and the measures taken to protect its confidentiality, and a statement of the adverse consequences which are expected to result if the information is disclosed through the public records of the Department.

(4) In the case of a request pursuant to Subsection (a)(3), a statement that the investor is not required to disclose investments pursuant to the Political Reform Act of 1975 or similar statute.

(5) A statement of the specific time for which confidential treatment of the information is necessary and the basis for such conclusion.

(6) If appropriate, a statement of the extent to which such information has been or will be disclosed to present or proposed investors, franchisees or other persons appropriate under the statute pursuant to which the information is filed.

(7) The request for confidentiality should not contain information for which itself confidential treatment is desired, as requests for confidentiality will be available for public inspection.

(c) Denial of Request. Material for which confidential treatment is requested shall not be deemed filed unless the request is granted, and may be withdrawn by the applicant if the request is denied, unless (1) the Commissioner has already taken an official action in reliance on such information prior to receiving the request for confidential treatment or (2) the Commissioner determines that the withdrawal of such information is otherwise contrary to the public interest. If withdrawn, such information will not be considered by the Commissioner in connection with the application or report.

(d) Granting of Request. If a request for confidential treatment is granted, the person making such request will be notified in writing, the information will be marked "confidential" and kept separate from the public file, and the application or report will be noted with the following legend: "Additional portions of this filing have been granted confidential treatment pursuant to Rule 250.10 and are contained in a separate confidential file."

1. Amendment filed 12-30-71 as an emergency; designated effective 1-1-72. Certificate of Compliance included (Register 72, No. 1).
2. Repealer and new section filed 12-29-80; effective thirtieth day thereafter (Register 81, No. 1).
3. Editorial correction of NOTE filed 8-28-85; effective thirtieth day thereafter (Register 85, No. 35).
4. Change without regulatory effect amending NOTE filed 6-3-94 pursuant to title 1, section 100, California Code of Regulations (Register 94, No. 22).
5. Change without regulatory effect amending NOTE filed 12-6-94 pursuant to section 100, title 1, California Code of Regulations (Register 94, No. 49).
6. Change without regulatory effect amending NOTE filed 2-24-99 pursuant to section 100, title 1, California Code of Regulations (Register 99, No. 9).
7. Change without regulatory effect amending NOTE filed 8-13-2014 pursuant to section 100, title 1, California Code of Regulations (Register 2014, No. 33).

Note: Authority cited: Section 17771, Business and Professions Code; Sections 25610, 27003, 28951, 29561 and 31502, Corporations Code; Sections 12300, 14201, 17400, 18347, 22150, 30006 and 50304, Financial Code; and Section 5155, Labor Code. Reference: Sections 25605, 25617, 27005, 28505, 29561, 29571, 29670, 31504 and 31505, Corporations Code; Sections 12300, 22160 and 50301, Financial Code; Sections 6253 and 6254, Government Code; and Sections 5155, 5159 and 5186, Labor Code.

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