10 Pa. Code § 603.031 - Public inspection of records

(a) During the regular business hours of the Department, members of the public may, on written request to do so, inspect at the Department's Harrisburg office documents which are public records. The written request required under this subsection must set forth the public records to be inspected.

(b) The Department may withhold from public inspection those records which it determines are excluded from the definition of "public records" in section 102 of the Right-to-Know Law (65 P.S. § 67.102), and any successor statute.

(c) A request for the confidential treatment of information contained in a statement, application, notice or report submitted to the Department may accompany the statement, application, notice or report and specify the reasons for the request.

(1) Material which is the subject of the request should be separated from other parts of the filing.

(2) On proper showing, the Department will treat as confidential the material which is the subject of the request.

(d) This section does not make available for public inspection the following:

(1) Books, papers, correspondence, memoranda, agreements or other documents or records contained in an investigative or examination file maintained by the Department.

(2) Minutes, documents or other memoranda of the Department or of the staff which deal with or concern the institution, maintenance or termination of an investigation.

(e) Except as set forth in paragraphs (1) and (2), financial statements required to be filed under §§ 303.011, 303.012, 304.021 and 304.022 are public.

(1) Statements of income required to be filed under §§ 303.011 and 304.021 (relating to broker-dealer registration procedures; and broker-dealer required financial reports) and nonrequired statements of income filed under §§ 303.011, 303.012, 304.021 and 304.022 are confidential if the income statements are bound separately from the accountant's report, the statement of financial condition and the accompanying notes.

(2) Financial statements which are considered confidential under paragraph (1) are available for official use by persons described in § 601.030(a) (relating to access to confidential information).

(3) This section is not in derogation of the rules of a National securities exchange or National securities association which give customers of a member broker or dealer the right, on request to the member broker or dealer, to obtain information relative to its financial condition.

(f) The Department will treat all of the following information as confidential and not be available for public inspection under any provision of the act and considers the information excluded from the definition of "public records" in section 102 of the Right-to-Know Law:

(1) The Social Security number and date of birth of an individual registered or applying for registration as an agent or an investment adviser representative that appears on the uniform application for securities industry registration or transfer, Form U-4 or successor form, filed with the Department under § 303.013 (relating to agent registration procedures) or with IARD under § 303.014 (relating to investment adviser representative registration procedures).

(2) The Social Security number and date of birth of an individual registered or applying for registration as an investment adviser or filing a notice as a Federally covered adviser that appears on the uniform application for investment adviser registration, Form ADV or successor form (Form ADV), filed with the Department or with IARD under § 303.012 or § 303.015 (relating to investment adviser registration procedure; and notice filing for Federally covered advisers).

(3) The Social Security number and date of birth of an individual who is a principal of a person registered or applying for registration as a broker-dealer or investment adviser or filing a notice as a Federally covered adviser that appears on the uniform application for broker-dealer registration, Form BD or successor form (Form BD) or Form ADV.

Notes

10 Pa. Code § 603.031

The provisions of this § 603.031 amended June 28, 1985, effective 6/29/1985, 15 Pa.B. 2394; corrected November 22, 1985, effective 10/26/1985, 15 Pa.B. 4212; amended January 17, 1992, effective 1/18/1992, 22 Pa.B. 295; amended September 1, 2000, effective 9/2/2000, 30 Pa.B. 4551; transferred and renumbered from 64 Pa. Code § 603.031, December 14, 2012, effective 12/15/2012, 42 Pa.B. 7533; amended January 12, 2018, effective 1/13/2018, 48 Pa.B. 389.

The provisions of this § 603.031 amended under sections 603(c) and 609(a) of the Pennsylvania Securities Act of 1972 (70 P.S. §§ 1-603(c) and 1-609(a)); section 202.C of the Department of Banking and Securities Code (71 P.S. § 733-202.C); and section 9(b) of the Takeover Disclosure Law (70 P.S. § 79(b)).