- (a) Definitions
For purposes of this section:
- (b) Procedures respecting documents, tangible things, or transcripts of
oral testimony received pursuant to compulsory process or investigation
- (1) With respect to any document, tangible thing, or transcript of oral
testimony received by the Commission pursuant to compulsory process in an investigation, a purpose of which is to determine whether any person may have violated any provision of the laws administered by the Commission, the procedures established in paragraph (2) through paragraph (7) shall apply.
- (2)(A) The Commission shall designate a duly authorized agent to serve as
custodian of documentary material, tangible things, or written reports or answers to questions, and transcripts of oral testimony, and such additional duly authorized agents as the Commission shall determine from time to time to be necessary to serve as deputies to the custodian.
- (B) Any person upon whom any demand for the production of documentary
material has been duly served shall make such material available for inspection and copying or reproduction to the custodian designated in such demand at the principal place of business of such person (or at such other place as such custodian and such person thereafter may agree or prescribe in writing or as the court may direct pursuant to section 57b-1(h) of this title) on the return date specified in such demand (or on such later date as such custodian may prescribe in writing). Such person may upon written agreement between such person and the custodian substitute copies for originals of all or any part of such material.
- (3)(A) The custodian to whom any documentary material, tangible things,
written reports or answers to questions, and transcripts of oral testimony are delivered shall take physical possession of such material, reports or answers, and transcripts, and shall be responsible for the use made of such material, reports or answers, and transcripts, and for the return of material, pursuant to the requirements of this section.
- (B) The custodian may prepare such copies of the documentary material,
written reports or answers to questions, and transcripts of oral testimony, and may make tangible things available, as may be required for official use by any duly authorized officer or employee of the Commission under regulations which shall be promulgated by the Commission. Notwithstanding subparagraph (C), such material, things, and transcripts may be used by any such officer or employee in connection with the taking of oral testimony under this section.
- (C) Except as otherwise provided in this section, while in the possession of
the custodian, no documentary material, tangible things, reports or answers to questions, and transcripts of oral testimony shall be available for examination by any individual other than a duly authorized officer or employee of the Commission without the consent of the person who produced the material, things, or transcripts. Nothing in this section is intended to prevent disclosure to either House of the Congress or to any committee or subcommittee of the Congress, except that the Commission immediately shall notify the owner or provider of any such information of a request for information designated as confidential by the owner or provider.
- (D) While in the possession of the custodian and under such reasonable terms
and conditions as the Commission shall prescribe -
- (i) documentary material, tangible things, or written reports shall be
available for examination by the person who produced the material, or by any duly authorized representative of such person; and
- (ii) answers to questions in writing and transcripts of oral testimony shall
be available for examination by the person who produced the testimony or by his attorney.
- (4) Whenever the Commission has instituted a proceeding against a person,
partnership, or corporation, the custodian may deliver to any officer or employee of the Commission documentary material, tangible things, written reports or answers to questions, and transcripts of oral testimony for official use in connection with such proceeding. Upon the completion of the proceeding, the officer or employee shall return to the custodian any such material so delivered which has not been received into the record of the proceeding.
- (5) If any documentary material, tangible things, written reports or answers
to questions, and transcripts of oral testimony have been produced in the course of any investigation by any person pursuant to compulsory process and -
- (A) any proceeding arising out of the investigation has been completed; or
- (B) no proceeding in which the material may be used has been commenced within
a reasonable time after completion of the examination and analysis of all such material and other information assembled in the course of the investigation; then the custodian shall, upon written request of the person who produced the material, return to the person any such material which has not been received into the record of any such proceeding (other than copies of such material made by the custodian pursuant to paragraph (3)(B)).
- (6) The custodian of any documentary material, written reports or answers to
questions, and transcripts of oral testimony may deliver to any officers or employees of appropriate Federal law enforcement agencies, in response to a written request, copies of such material for use in connection with an investigation or proceeding under the jurisdiction of any such agency. The custodian of any tangible things may make such things available for inspection to such persons on the same basis. Such materials shall not be made available to any such agency until the custodian received certification of any officer of such agency that such information will be maintained in confidence and will be used only for official law enforcement purposes. Such documentary material, results of inspections of tangible things, written reports or answers to questions, and transcripts of oral testimony may be used by any officer or employee of such agency only in such manner and subject to such conditions as apply to the Commission under this section. The custodian may make such materials available to any State law enforcement agency upon the prior certification of any officer of such agency that such information will be maintained in confidence and will be used only for official law enforcement purposes.
- (7) In the event of the death, disability, or separation from service in the
Commission of the custodian of any documentary material, tangible things, written reports or answers to questions, and transcripts of oral testimony produced under any demand issued under this subchapter, or the official relief of the custodian from responsibility for the custody and control of such material, the Commission promptly shall -
- (A) designate under paragraph (2)(A) another duly authorized agent to serve
as custodian of such material; and
- (B) transmit in writing to the person who produced the material or testimony
notice as to the identity and address of the successor so designated. Any successor designated under paragraph (2)(A) as a result of the requirements of this paragraph shall have (with regard to the material involved) all duties and responsibilities imposed by this section upon his predecessor in office with regard to such material, except that he shall not be held responsible for any default or dereliction which occurred before his designation.
- (c) Information considered confidential
- (1) All information reported to or otherwise obtained by the Commission which
is not subject to the requirements of subsection (b) of this section shall be considered confidential when so marked by the person supplying the information and shall not be disclosed, except in accordance with the procedures established in paragraph (2) and paragraph (3).
- (2) If the Commission determines that a document marked confidential by the
person supplying it may be disclosed because it is not a trade secret or commercial or financial information which is obtained from any person and which is privileged or confidential, within the meaning of section 46(f) of this title, then the Commission shall notify such person in writing that the Commission intends to disclose the document at a date not less than 10 days after the date of receipt of notification.
- (3) Any person receiving such notification may, if he believes disclosure of
the document would cause disclosure of a trade secret, or commercial or financial information which is obtained from any person and which is privileged or confidential, within the meaning of section 46(f) of this title, before the date set for release of the document, bring an action in the district court of the United States for the district within which the documents are located or in the United States District Court for the District of Columbia to restrain disclosure of the document. Any person receiving such notification may file with the appropriate district court or court of appeals of the United States, as appropriate, an application for a stay of disclosure. The documents shall not be disclosed until the court has ruled on the application for a stay.
- (d) Particular disclosures allowed
- (1) The provisions of subsection (c) of this section shall not be construed
to prohibit -
- (A) the disclosure of information to either House of the Congress or to any
committee or subcommittee of the Congress, except that the Commission immediately shall notify the owner or provider of any such information of a request for information designated as confidential by the owner or provider;
- (B) the disclosure of the results of any investigation or study carried out
or prepared by the Commission, except that no information shall be identified nor shall information be disclosed in such a manner as to disclose a trade secret of any person supplying the trade secret, or to disclose any commercial or financial information which is obtained from any person and which is privileged or confidential;
- (C) the disclosure of relevant and material information in Commission
adjudicative proceedings or in judicial proceedings to which the Commission is a party; or
- (D) the disclosure to a Federal agency of disaggregated information obtained
in accordance with section 3512 (FOOTNOTE 1) of title 44, except that the recipient agency shall use such disaggregated information for economic, statistical, or policymaking purposes only, and shall not disclose such information in an individually identifiable form.
- (2) Any disclosure of relevant and material information in Commission
adjudicative proceedings or in judicial proceedings to which the Commission is a party shall be governed by the rules of the Commission for adjudicative proceedings or by court rules or orders, except that the rules of the Commission shall not be amended in a manner inconsistent with the purposes of this section.
- (e) Effect on other statutory provisions limiting disclosure
Nothing in this section shall supersede any statutory provision which
expressly prohibits or limits particular disclosures by the Commission, or which authorizes disclosures to any other Federal agency.
- (f) Exemption from disclosure
Any material which is received by the Commission in any investigation, a
purpose of which is to determine whether any person may have violated any provision of the laws administered by the Commission, and which is provided pursuant to any compulsory process under this subchapter or which is provided voluntarily in place of such compulsory process shall be exempt from disclosure under section 552 of title 5.