LD 509
pg. 70
Page 69 of 94 PUBLIC Law Chapter 65 Page 71 of 94
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LR 441
Item 1

 
knowledge of, or experience in, the theory and practice of
securities.

 
B.__With the approval of the Commissioner of Professional
and Financial Regulation, the administrator shall organize
the Office of Securities in such a manner as the
administrator considers necessary to carry out the
administrator's responsibilities.

 
C.__The administrator may employ personnel as the business
of the Office of Securities may require, subject to the
Commissioner of Professional and Financial Regulation's
approval and in accordance with the Civil Service Law. The
qualifications of the personnel must reflect the needs and
responsibilities of the Office of Securities' regulatory
functions. The administrator may authorize senior personnel
of the Office of Securities to carry out the administrator's
duties and authority. The administrator may employ or engage
such expert, professional or other assistance as may be
necessary to assist the Office of Securities in carrying out
its functions. In addition to salaries or wages, all
employees of the Office of Securities must receive their
actual expenses incurred in the performance of their
official duties.

 
D. At the expense of the Office of Securities, the
administrator may train the Office of Securities' employees,
or have them trained, in a manner the administrator
determines desirable, to carry out the purposes of the
Office of Securities.

 
2.__Unlawful use of records or information.__It is unlawful
for the administrator or an employee or designee of the
administrator to use for personal benefit or the benefit of
others records or other information obtained by or filed with the
administrator that is not public under section 16607, subsection
2. This chapter does not authorize the administrator or an
officer, employee or designee of the administrator to disclose
the record or information, except in accordance with section
16602, section 16607, subsection 3 or section 16608.

 
3.__No privilege or exemption created or diminished.__This
chapter does not create or diminish a privilege or exemption that
exists at common law or by statute or rule or otherwise.

 
4.__Investor education.__The administrator may develop and
implement investor education initiatives to inform the public
about investing in securities, with particular emphasis on the
prevention and detection of securities fraud. In developing and
implementing these initiatives, the administrator may collaborate


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