California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 1 - General Provisions
Article 1 - Administration
Section 250.10.5 - Disclosure of Confidential Information

Universal Citation: 10 CA Code of Regs 250.10.5

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

(a) Information held confidential pursuant to Section 250.10 may be disclosed by the Commissioner, at any time and in the Commissioner's sole discretion, whether on the Commissioner's own motion or upon the request of any person:

(1) To other state or federal regulatory agencies, in accordance with law, or

(2) When necessary or appropriate in any proceeding or investigation pursuant to the law under which the information was filed, or

(3) Upon a determination by the Commissioner that continued confidential treatment is no longer justified because the reasons therefore no longer exist or because the public interest in disclosing such information outweighs the public interest in not doing so. If the Commissioner concludes that the disclosure of such information is necessary and urgent in the public interest or that it is impractical under the circumstances to give notice to the person who requested confidential treatment of the information, the information may be disclosed without notice. Otherwise, the person who requested confidential treatment of such information will be given notice that the release of such information is under consideration and the reasons therefore, and an opportunity to make representations promptly, within not more than five business days, regarding the continued need and justification for continued confidentiality.

(b) Requests to Inspect Confidential Information. A request to inspect confidential information pursuant to Subsection (a)(3) should ordinarily be in writing, signed by the person making the request, and state the justification for the request. A copy of the request for inspection will ordinarily be forwarded to the person who requested confidential treatment of the information in accordance with Subsection (a)(3). If a request for inspection should be held confidential, the reasons therefore must be stated in such request, in accordance with Section 250.10(b).

(c) Nothing contained herein shall be interpreted as affording any person a right to withdraw information once it has been received by the Commissioner, except as provided in subsection (c) of Section 250.10.

1. New section filed 12-29-80; effective thirtieth day thereafter (Register 81, No. 1).
2. Editorial correction of NOTE filed 8-28-85; effective thirtieth day thereafter (Register 85, No. 35).
3. Change without regulatory effect amending NOTE filed 6-3-94 pursuant to title 1, section 100, California Code of Regulations (Register 94, No. 22).
4. Change without regulatory effect amending NOTE filed 12-6-94 pursuant to section 100, title 1, California Code of Regulations (Register 94, No. 49).
5. Change without regulatory effect amending NOTE filed 2-24-99 pursuant to section 100, title 1, California Code of Regulations (Register 99, No. 9).

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; Sections 1344 and 35190, Health and Safety Code; and Section 5155, Labor Code. Reference: Sections 25605, 25617, 27005, 28505, 29561, 29571, 29670, 31504 and 31505, Corporations Code; Sections 12300, 22160 and 50302, Financial Code; Sections 6253 and 6254, Government Code; Sections 1344, 1351, 1380 and 1383, Health and Safety Code; and Sections 5155, 5159 and 5186, Labor Code.

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