# 17 C.F.R. § 230.122 (2026): Non-disclosure of information obtained in the course of examinations and investigations

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_122

## Section

- **Citation:** 17 C.F.R. § 230.122 (2026)
- **Heading:** Non-disclosure of information obtained in the course of examinations and investigations
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 17 CFR: Commodity and Securities Exchanges / Chapter II: SECURITIES AND EXCHANGE COMMISSION / Part 230: GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933 / § 230.122: § 230.122   Non-disclosure of information obtained in the course of examinations and investigations.

## Text

Information or documents obtained by officers or employees of the Commission in the course of any examination or investigation pursuant to section 8(e) or 20(a) (48 Stat. 80, 86; 15 U.S.C. 77h(e), 77t(a)) shall, unless made a matter of public record, be deemed confidential. Except as provided by 17 CFR 203.2, officers and employees are hereby prohibited from making such confidential information or documents or any other non-public records of the Commission available to anyone other than a member, officer or employee of the Commission, unless the Commission or the General Counsel, pursuant to delegated authority, authorizes the disclosure of such information or the production of such documents as not being contrary to the public interest. Any officer or employee who is served with a subpoena requiring the disclosure of such information or the production of such documents shall appear in court and, unless the authorization described in the preceding sentence shall have been given, shall respectfully decline to disclose the information or produce the documents called for, basing his or her refusal upon this section. Any officer or employee who is served with such a subpoena shall promptly advise the General Counsel of the service of such subpoena, the nature of the information or documents sought, and any circumstances which may bear on the desirability of making available such information or documents.
[44 FR 50836, Aug. 30, 1979, as amended at 53 FR 17459, May 17, 1988; 54 FR 33501, Aug. 15, 1989; 76 FR 71876, Nov. 21, 2011]

## Nearby sections

- [17 C.F.R. § 230.100 (2026) § 230.100   Definitions of terms used in the rules and regulations.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_100.md)
- [17 C.F.R. § 230.110 (2026) § 230.110   Business hours of the Commission.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_110.md)
- [17 C.F.R. § 230.111 (2026) § 230.111   Payment of filing fees.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_111.md)
- [17 C.F.R. § 230.120 (2026) § 230.120   Inspection of registration statements.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_120.md)
- [17 C.F.R. § 230.122 (2026) § 230.122   Non-disclosure of information obtained in the course of examinations and investigations.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_122.md)
- [17 C.F.R. § 230.130 (2026) § 230.130   Definition of “rules and regulations” as used in certain sections of the Act.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_130.md)
- [17 C.F.R. § 230.131 (2026) § 230.131   Definition of security issued under governmental obligations.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_131.md)
- [17 C.F.R. § 230.132 (2026) § 230.132   Definition of “common trust fund” as used in section 3(a)(2) of the Act.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_132.md)
- [17 C.F.R. § 230.133 (2026) § 230.133   Definition for purposes of section 5 of the Act, of “sale”, “offer”, “offer to sell”, and “offer for sale”.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_133.md)
- [17 C.F.R. § 230.134 (2026) § 230.134   Communications not deemed a prospectus.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_134.md)
- [17 C.F.R. § 230.134a (2026) § 230.134a   Options material not deemed a prospectus.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_134a.md)
- [17 C.F.R. § 230.134b (2026) § 230.134b   Statements of additional information.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_134b.md)
- [17 C.F.R. § 230.135 (2026) § 230.135   Notice of proposed registered offerings.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_135.md)
- [17 C.F.R. § 230.135a (2026) § 230.135a   Generic advertising.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_135a.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T17_P230_S230_122. Check the current official text before relying on it. Not legal advice.