{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/13.1-518.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/13.1-518.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/13.1-518.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/13.1-518.html"}],"law_id":346654,"edition_id":2,"section_id":346654,"structure_id":49775,"section_number":"13.1-518","catch_line":"Investigations; confidentiality of information and documents","history":"Code 1950, \u00a7 13-134; 1956, c. 428; 1979, c. 379; 1987, c. 678; 1992, c. 157.","full_text":"A\n\nThe Commission may make such investigations within or outside of this Commonwealth as it deems necessary to determine whether any person has violated or is about to violate the provisions of this chapter or any order, rule or injunction of the Commission, and may require any broker-dealer, investment advisor, investment advisor representative, issuer or agent subject to the investigation to pay the actual costs of the investigation. The Commission shall have power to issue subpoenas and subpoenas duces tecum to require the attendance of any person and the production of any papers for the purposes of such investigation. No person shall be excused from testifying on the ground that his testimony would tend to incriminate him, but if, after asserting his claim of the privilege, he is required to testify, he shall not be prosecuted or penalized on account of any transactions concerning which he does testify.\n\nB\n\nInformation or documents obtained or prepared by any member, subordinate or employee of the Commission in the course of any examination or investigation conducted pursuant to the provisions of this chapter shall be deemed confidential and shall not be disclosed to the public. However, nothing contained herein shall be interpreted to prohibit or limit (i) the publication of the findings, decisions, orders, judgments or opinions of the Commission; (ii) the use of any such information or documents in proceedings by or before the Commission or a hearing examiner appointed by the Commission; (iii) the disclosure of any such information or documents to any quasi-governmental entity substantially associated with law enforcement or the securities or investment advisory business approved by rule of the Commission; or (iv) the disclosure of any such information or documents to any governmental entity approved by rule of the Commission, or to any attorney for the Commonwealth, or to the Attorney General of Virginia.\n\n","order_by":null,"text":{"0":{"id":1292707,"text":"The Commission may make such investigations within or outside of this Commonwealth as it deems necessary to determine whether any person has violated or is about to violate the provisions of this chapter or any order, rule or injunction of the Commission, and may require any broker-dealer, investment advisor, investment advisor representative, issuer or agent subject to the investigation to pay the actual costs of the investigation. The Commission shall have power to issue subpoenas and subpoenas duces tecum to require the attendance of any person and the production of any papers for the purposes of such investigation. No person shall be excused from testifying on the ground that his testimony would tend to incriminate him, but if, after asserting his claim of the privilege, he is required to testify, he shall not be prosecuted or penalized on account of any transactions concerning which he does testify.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1292708,"text":"Information or documents obtained or prepared by any member, subordinate or employee of the Commission in the course of any examination or investigation conducted pursuant to the provisions of this chapter shall be deemed confidential and shall not be disclosed to the public. However, nothing contained herein shall be interpreted to prohibit or limit (i) the publication of the findings, decisions, orders, judgments or opinions of the Commission; (ii) the use of any such information or documents in proceedings by or before the Commission or a hearing examiner appointed by the Commission; (iii) the disclosure of any such information or documents to any quasi-governmental entity substantially associated with law enforcement or the securities or investment advisory business approved by rule of the Commission; or (iv) the disclosure of any such information or documents to any governmental entity approved by rule of the Commission, or to any attorney for the Commonwealth, or to the Attorney General of Virginia.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":49775,"edition_id":2,"name":"Miscellaneous","identifier":"5","label":"article","depth":3,"order_by":4,"parent_id":49770,"metadata":{"child_laws":21,"child_structures":0},"date_created":"2026-08-02 02:14:47","date_modified":"2026-08-02 12:29:07","permalink":{"id":1376879,"object_type":"structure","relational_id":49775,"identifier":"5","token":"13.1\/5\/5","url":"\/13.1\/5\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49770,"edition_id":2,"name":"Securities Act","identifier":"5","label":"chapter","depth":2,"order_by":3,"parent_id":49726,"metadata":{"child_laws":40,"child_structures":6},"date_created":"2026-08-02 02:14:45","date_modified":"2026-08-02 12:29:05","permalink":{"id":1376805,"object_type":"structure","relational_id":49770,"identifier":"5","token":"13.1\/5","url":"\/13.1\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49726,"edition_id":2,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":44,"parent_id":null,"metadata":{"child_laws":894,"child_structures":104},"date_created":"2026-08-02 02:14:01","date_modified":"2026-08-02 12:29:04","permalink":{"id":1374495,"object_type":"structure","relational_id":49726,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":346649,"structure_id":49775,"section_number":"13.1-514","catch_line":"Exemptions","url":"\/13.1-514\/","token":"13.1\/5\/5\/13.1-514","metadata":false},{"id":346647,"structure_id":49775,"section_number":"13.1-514.1","catch_line":"Exemption of certain securities by order of Commission","url":"\/13.1-514.1\/","token":"13.1\/5\/5\/13.1-514.1","metadata":false},{"id":346648,"structure_id":49775,"section_number":"13.1-514.2","catch_line":"Primacy of Virginia law to be maintained","url":"\/13.1-514.2\/","token":"13.1\/5\/5\/13.1-514.2","metadata":false},{"id":346650,"structure_id":49775,"section_number":"13.1-515","catch_line":"Advertising","url":"\/13.1-515\/","token":"13.1\/5\/5\/13.1-515","metadata":{"court_decisions":""}},{"id":346651,"structure_id":49775,"section_number":"13.1-516","catch_line":"Misleading filings","url":"\/13.1-516\/","token":"13.1\/5\/5\/13.1-516","metadata":false},{"id":346652,"structure_id":49775,"section_number":"13.1-517","catch_line":"Consent to service of process","url":"\/13.1-517\/","token":"13.1\/5\/5\/13.1-517","metadata":false},{"id":346654,"structure_id":49775,"section_number":"13.1-518","catch_line":"Investigations; confidentiality of information and documents","url":"\/13.1-518\/","token":"13.1\/5\/5\/13.1-518","metadata":false},{"id":346653,"structure_id":49775,"section_number":"13.1-518.1","catch_line":"Broker-dealers and investment advisors to file certain reports with Commission","url":"\/13.1-518.1\/","token":"13.1\/5\/5\/13.1-518.1","metadata":false},{"id":346655,"structure_id":49775,"section_number":"13.1-519","catch_line":"Injunctions","url":"\/13.1-519\/","token":"13.1\/5\/5\/13.1-519","metadata":false},{"id":346657,"structure_id":49775,"section_number":"13.1-520","catch_line":"Crimes","url":"\/13.1-520\/","token":"13.1\/5\/5\/13.1-520","metadata":false},{"id":346656,"structure_id":49775,"section_number":"13.1-520.1","catch_line":"Commission may transmit record or complaint to locality where violation occurred","url":"\/13.1-520.1\/","token":"13.1\/5\/5\/13.1-520.1","metadata":false},{"id":346658,"structure_id":49775,"section_number":"13.1-521","catch_line":"Violations punishable by the Commission","url":"\/13.1-521\/","token":"13.1\/5\/5\/13.1-521","metadata":false},{"id":346659,"structure_id":49775,"section_number":"13.1-522","catch_line":"Civil liabilities","url":"\/13.1-522\/","token":"13.1\/5\/5\/13.1-522","metadata":false},{"id":346661,"structure_id":49775,"section_number":"13.1-523","catch_line":"Rules and forms","url":"\/13.1-523\/","token":"13.1\/5\/5\/13.1-523","metadata":false},{"id":346660,"structure_id":49775,"section_number":"13.1-523.1","catch_line":"Commission authority to regulate securities and investment advisory activities","url":"\/13.1-523.1\/","token":"13.1\/5\/5\/13.1-523.1","metadata":false},{"id":346662,"structure_id":49775,"section_number":"13.1-524","catch_line":"Certain records of Commission available to public; admissibility of copies; destruction","url":"\/13.1-524\/","token":"13.1\/5\/5\/13.1-524","metadata":false},{"id":346664,"structure_id":49775,"section_number":"13.1-525","catch_line":"Official interpretations","url":"\/13.1-525\/","token":"13.1\/5\/5\/13.1-525","metadata":false},{"id":346663,"structure_id":49775,"section_number":"13.1-525.1","catch_line":"Fees to cover expense of regulation","url":"\/13.1-525.1\/","token":"13.1\/5\/5\/13.1-525.1","metadata":false},{"id":346665,"structure_id":49775,"section_number":"13.1-526","catch_line":"Transition","url":"\/13.1-526\/","token":"13.1\/5\/5\/13.1-526","metadata":{"court_decisions":{"0":{"name":"Trigon Insurance v. United States","case_number":"3:00cv365","citation":"215 F. Supp. 2d 687","date":"2002-08-09","url":"https:\/\/www.courtlistener.com\/opinion\/2503699\/trigon-insurance-v-united-states\/","abstract":" .\u202f.\u202f. 215 F.Supp.2d 687 (2002) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"}}}},{"id":346670,"structure_id":49775,"section_number":"13.1-527","catch_line":"Short title","url":"\/13.1-527\/","token":"13.1\/5\/5\/13.1-527","metadata":false},{"id":346666,"structure_id":49775,"section_number":"13.1-527.01","catch_line":"Repealed","url":"\/13.1-527.01\/","token":"13.1\/5\/5\/13.1-527.01","metadata":false}],"previous_section":{"id":346652,"structure_id":49775,"section_number":"13.1-517","catch_line":"Consent to service of process","url":"\/13.1-517\/","token":"13.1\/5\/5\/13.1-517","metadata":false},"next_section":{"id":346653,"structure_id":49775,"section_number":"13.1-518.1","catch_line":"Broker-dealers and investment advisors to file certain reports with Commission","url":"\/13.1-518.1\/","token":"13.1\/5\/5\/13.1-518.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-518\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1956, chapter 428; in 1979, chapter 379; in 1987, chapter 678; in 1992, chapter 157.<\/p>","references":false,"refers_to":false,"permalink":{"id":1376905,"object_type":"law","relational_id":346654,"identifier":"13.1-518","token":"13.1\/5\/5\/13.1-518","url":"\/13.1-518\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/13.1-518\/","token":"13.1\/5\/5\/13.1-518","dublin_core":{"Title":"Investigations; confidentiality of information and documents","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-518","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Commission may make such investigations within or outside of this Commonwealth as it deems necessary to determine whether any person has violated or is about to violate the provisions of this chapter or any order<\/span>, rule or injunction<\/span> of the Commission, and may require any broker-dealer, investment advisor, investment advisor representative, issuer or agent subject to the investigation to pay the actual costs of the investigation. The Commission shall have power to issue<\/span> subpoenas<\/span> and subpoenas<\/span> duces tecum to require the attendance of any person and the production of any papers for the purposes of such investigation. No person shall be excused from testifying on the ground that his testimony<\/span> would tend to incriminate<\/span> him, but if, after asserting his claim of the privilege<\/span>, he is required to testify, he shall not be prosecuted or penalized on account of any transactions concerning which he does testify. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Information or documents obtained or prepared by any member, subordinate or employee of the Commission in the course of any examination or investigation conducted pursuant to the provisions of this chapter shall be deemed confidential and shall not be disclosed to the public. However, nothing contained herein shall be interpreted to prohibit or limit (i) the publication of the findings<\/span>, decisions, orders<\/span>, judgments<\/span> or opinions<\/span> of the Commission; (ii) the use of any such information or documents in proceedings by or before the Commission or a hearing<\/span> examiner appointed by the Commission; (iii) the disclosure of any such information or documents to any quasi-governmental entity substantially associated with law<\/span> enforcement or the securities or investment advisory business approved by rule of the Commission; or (iv) the disclosure of any such information or documents to any governmental entity approved by rule of the Commission, or to any attorney for the Commonwealth, or to the Attorney General<\/span> of Virginia. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINVESTIGATIONS; CONFIDENTIALITY OF INFORMATION AND DOCUMENTS (\u00a7 13.1-518)\n\nA. The Commission may make such investigations within or outside of this\nCommonwealth as it deems necessary to determine whether any person has violated\nor is about to violate the provisions of this chapter or any order, rule or\ninjunction of the Commission, and may require any broker-dealer, investment\nadvisor, investment advisor representative, issuer or agent subject to the\ninvestigation to pay the actual costs of the investigation. The Commission shall\nhave power to issue subpoenas and subpoenas duces tecum to require the\nattendance of any person and the production of any papers for the purposes of\nsuch investigation. No person shall be excused from testifying on the ground\nthat his testimony would tend to incriminate him, but if, after asserting his\nclaim of the privilege, he is required to testify, he shall not be prosecuted or\npenalized on account of any transactions concerning which he does testify.\n\nB. Information or documents obtained or prepared by any member, subordinate or\nemployee of the Commission in the course of any examination or investigation\nconducted pursuant to the provisions of this chapter shall be deemed\nconfidential and shall not be disclosed to the public. However, nothing\ncontained herein shall be interpreted to prohibit or limit (i) the publication\nof the findings, decisions, orders, judgments or opinions of the Commission;\n(ii) the use of any such information or documents in proceedings by or before\nthe Commission or a hearing examiner appointed by the Commission; (iii) the\ndisclosure of any such information or documents to any quasi-governmental entity\nsubstantially associated with law enforcement or the securities or investment\nadvisory business approved by rule of the Commission; or (iv) the disclosure of\nany such information or documents to any governmental entity approved by rule of\nthe Commission, or to any attorney for the Commonwealth, or to the Attorney\nGeneral of Virginia.\n\nHISTORY: Code 1950, \u00a7 13-134; 1956, c. 428; 1979, c. 379; 1987, c. 678; 1992,\nc. 157.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}