A. The Commission may make such investigations within or outside of this Commonwealth as it deems necessary to determine whether any person has violated 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 agent subject to the investigation to pay the actual costs of the investigation. The Commission shall have power to issue subpoenas and subpoenas duces tecum to require the attendance of any person and the production of any papers for the purposes of such investigation. No person shall be excused from testifying on the ground that his testimony would tend to incriminate him, but if, after asserting his claim of the privilege, he is required to testify, he shall not be prosecuted or penalized on account of any transactions concerning which he does testify.
B. Information or documents obtained or prepared by any member, subordinate or employee of the Commission in the course of any examination or investigation conducted pursuant to the provisions of this chapter shall be deemed confidential and shall not be disclosed to the public. However, nothing contained herein shall be interpreted to prohibit or limit (i) the publication of the findings, decisions, orders, judgments or opinions of the Commission; (ii) the use of any such information or documents in proceedings by or before the Commission or a hearing examiner appointed by the Commission; (iii) the disclosure of any such information or documents to any quasi-governmental entity substantially associated with law enforcement or the securities or investment advisory business approved by rule of the Commission; or (iv) the disclosure of any such information or documents to any governmental entity approved by rule of the Commission, or to any attorney 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.
Structure Code of Virginia
§ 13.1-502. Unlawful offers and sales
§ 13.1-504.2. Broker-dealer services provided by credit unions; when registration not required
§ 13.1-505. Procedure for registration
§ 13.1-505.1. Post-registration provisions
§ 13.1-506. Revocation of registration
§ 13.1-507. Registration requirement; exemptions
§ 13.1-508. Registration by notification
§ 13.1-509. Registration by coordination
§ 13.1-510. Registration by qualification
§ 13.1-511. Effectiveness and reports
§ 13.1-514.1. Exemption of certain securities by order of Commission
§ 13.1-514.2. Primacy of Virginia law to be maintained
§ 13.1-516. Misleading filings
§ 13.1-517. Consent to service of process
§ 13.1-518. Investigations; confidentiality of information and documents
§ 13.1-518.1. Broker-dealers and investment advisors to file certain reports with Commission
§ 13.1-520.1. Commission may transmit record or complaint to locality where violation occurred
§ 13.1-521. Violations punishable by the Commission
§ 13.1-523.1. Commission authority to regulate securities and investment advisory activities
§ 13.1-524. Certain records of Commission available to public; admissibility of copies; destruction
§ 13.1-525. Official interpretations
§ 13.1-525.1. Fees to cover expense of regulation
§ 13.1-527.1. Division created; duties