A broker–dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative is not liable to another broker–dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative for defamation relating to a statement that is contained in a record required by the director, or designee of the director, the Securities and Exchange Commission, or a self–regulatory organization, unless the person knew, or should have known at the time that the statement was made, that it was false in a material respect or the person acted in reckless disregard of the statement’s truth or falsity.

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Source: SL 2004, ch 278, § 35.