(a) This chapter shall be administered by the Attorney General who shall be ex officio the Securities Commissioner and who may employ such additional assistants as he deems necessary. The Securities Commissioner may delegate any or all of his duties pursuant to this chapter to members of his staff, as he deems necessary or appropriate.
(b) It is unlawful for the Securities Commissioner or an officer, employee, or designee of the Securities Commissioner to use for personal benefit or the benefit of others records or other information obtained by or filed with the Securities Commissioner that are not public under Section 35-1-607(b). This chapter does not authorize the Securities Commissioner or an officer, employee, or designee of the Securities Commissioner to disclose the record or information, except in accordance with Section 35-1-602, 35-1-607(c), or 35-1-608.
(c) This chapter does not create or diminish a privilege or exemption that exists at common law, by statute or rule, or otherwise.
(d) The Securities Commissioner may develop and implement investor education initiatives to inform the public about investing in securities, with particular emphasis on responsible investing and on the prevention and detection of securities fraud. In developing and implementing these initiatives, the Securities Commissioner may collaborate with public and nonprofit organizations with an interest in investor education. The Securities Commissioner may accept grants or donations to develop and implement investor education initiatives. This subsection does not authorize the Securities Commissioner to require participation or monetary contributions of a registrant in an investor education program.
HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
Structure South Carolina Code of Laws
Chapter 1 - South Carolina Uniform Securities Act Of 2005
Section 35-1-101. Short title.
Section 35-1-102. Definitions.
Section 35-1-103. References to federal statutes.
Section 35-1-104. References to federal agencies.
Section 35-1-105. Electronic records and signatures.
Section 35-1-201. Exempt securities.
Section 35-1-202. Exempt transactions.
Section 35-1-203. Additional exemptions and waivers.
Section 35-1-204. Denial, suspension, revocation, condition, or limitation of exemptions.
Section 35-1-301. Securities registration requirement.
Section 35-1-302. Notice filing.
Section 35-1-303. Securities registration by coordination.
Section 35-1-304. Securities registration by qualification.
Section 35-1-305. Securities registration filings.
Section 35-1-306. Denial, suspension, and revocation of securities registration.
Section 35-1-307. Waiver and modification.
Section 35-1-401. Broker-dealer registration requirement; exemptions.
Section 35-1-402. Agent registration requirement and exemptions.
Section 35-1-403. Investment adviser registration requirement; exemptions.
Section 35-1-404. Investment advisor representative registration requirement; exemptions.
Section 35-1-405. Federal covered investment adviser notice filing requirement.
Section 35-1-407. Succession and change in registration of broker-dealer or investment adviser.
Section 35-1-410. Examination and filing fee requirements.
Section 35-1-411. Postregistration requirements.
Section 35-1-501. General fraud.
Section 35-1-502. Prohibited conduct in providing investment advice regarding securities.
Section 35-1-503. Evidentiary burden.
Section 35-1-504. Filing of sales and advertising literature.
Section 35-1-505. Misleading filings.
Section 35-1-506. Misrepresentations concerning registration or exemption.
Section 35-1-507. Qualified immunity.
Section 35-1-508. Criminal penalties.
Section 35-1-509. Civil liability.
Section 35-1-510. Rescission offers.
Section 35-1-601. Administration.
Section 35-1-602. Investigations and subpoenas.
Section 35-1-603. Civil enforcement.
Section 35-1-604. Administrative enforcement.
Section 35-1-605. Rules, forms, orders, interpretative opinions, and hearings.
Section 35-1-606. Administrative files and opinions.
Section 35-1-607. Public records; confidentiality.
Section 35-1-608. Uniformity and cooperation with other agencies.
Section 35-1-609. Judicial review.
Section 35-1-610. Jurisdiction.
Section 35-1-611. Service of process.
Section 35-1-612. Severability clause.
Section 35-1-701. Application of act to existing proceeding and existing rights and duties.
Section 35-1-703. Effective date.
Section 35-1-800. Definitions.
Section 35-1-810. Notification of agencies.
Section 35-1-830. Disclosure of financial exploitation to designated third party.
Section 35-1-850. Delay of a disbursement or transaction due to suspected financial exploitation.