808 KAR 10:390.

Confidentially disclosed documents.

 

      RELATES TO: KRS

292.500(17)

      STATUTORY

AUTHORITY: KRS 292.500(3)

      NECESSITY,

FUNCTION, AND CONFORMITY: KRS

292.500(3) authorizes the commissioner

to

promulgate administrative regulations necessary to carry out the provisions of

KRS Chapter 292. KRS 292.500(18) authorizes the commissioner to share information

gained pursuant to an examination, investigation, filing, or other source, with

a governmental agency, jurisdiction, or governmental or self-regulating

organization or entity to the extent the commissioner determines that the sharing of information

is or will be reasonably necessary or useful to the office or agency in

carrying out its regulatory responsibilities. This administrative regulation

establishes the requirements for release of confidential information pursuant

to KRS 292.500(17).

 

      Section 1.

Pursuant to KRS 292.500(18), the commissioner may disclose

confidential information if the requirements established in this section are

met.

      (1) The commissioner may

disclose the content of an investigation, examination report, preliminary

examination report or results, or other matter relating to the preceding, to

another governmental or regulatory authority, including the U.S. Securities and

Exchange Commission, the NASD, a state securities regulator, a state or federal

criminal agency, or a criminal prosecutorial body, if:

      (a) The agency

receiving the information agrees in writing to hold it confidential; or

      (b) The commissioner reasonably

believes a legitimate governmental purpose is served by the disclosure

regardless of the ability of the other agency to ensure the confidentiality of

the disclosed material.

      (2) The

materials, documentation or other information referred to in subsection (1) of

this section shall lose their confidential status upon the termination of an

investigation or enforcement action where the information has been utilized by

this or another regulatory body against or with respect to the entity or person

that initially provided the materials to the office.

      (3) Except as

necessary for the office to enforce the provisions of KRS Chapter 292, a

consumer complaint or other information relative to an investigation or

examination shall remain confidential pursuant to the provisions of KRS 292.500(19) and exempt from public disclosure after the

documents would otherwise lose their confidential status pursuant to the

provisions of subsection (1) or (2) of this section, if the public disclosure

would:

      (a) Jeopardize

the integrity of another active investigation, examination or proceeding;

      (b) Reveal the

name, address, telephone number, Social Security number, or other identifying

number or information of a complainant, customer, or account holder;

      (c) Disclose the

identity of a confidential source;

      (d) Disclose

investigative techniques or procedures; or

      (e) Reveal a

trade secret.

      (4) After five

(5) years the commissioner

may destroy discarded or obsolete materials,

documentation or other information. (24 Ky.R. 2273; Am. 25 Ky.R. 101; eff.

6-25-98;

TAm eff. 11-7-2012.)