Nebraska Statutes 8-1730. Code; administration; use of information for personal gain or benefit prohibited; public information; confidentiality; privilege
(1) The Commodity Code shall be administered by the Department of Banking and Finance. Neither the director nor any employees of the director shall use any information which is filed with or obtained by the director which is not public information for personal gain or benefit, nor shall the director or any employees of the director conduct any securities or commodity dealings whatsoever based upon any such information, even though public, if there has not been a sufficient period of time for the securities or commodity markets to assimilate such information.
Terms Used In Nebraska Statutes 8-1730
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Statute: A law passed by a legislature.
- Subpoena: A command to a witness to appear and give testimony.
(2) Except as provided in subsection (3) of this section, all information collected, assembled, or maintained by the director shall be public information and shall be available for the examination of the public as provided by sections 84-712 to 84-712.09.
(3) The following information shall be deemed to be confidential:
(a) Information obtained in investigations pursuant to section 8-1725 ;
(b) Information made confidential by sections 84-712 to 84-712.09 ; or
(c) Information obtained from federal agencies which may not be disclosed under federal law.
(4) The director may disclose any information made confidential under subdivision (3)(a) of this section to persons identified in section 8-1731.
(5) No provision of the Commodity Code shall either create or derogate any privilege which exists at common law, by statute, or otherwise, when any documentary or other evidence is sought under subpoena directed to the director or any employee of the director.