Idaho State Statutes - Idaho Attorney Directory

(a) Authority to investigate.
The administrator may:
(1) Conduct public or private investigations within or outside of this
state which the administrator considers necessary or appropriate to
determine whether a person has violated, is violating, or is about to
violate this chapter or a rule adopted or an order issued under this
chapter, or to aid in the enforcement of this chapter or in the adoption
of rules and forms under this chapter;
(2) Require or permit a person to testify, file a statement, or produce a
record, under oath or otherwise as the administrator determines, as to all
the facts and circumstances concerning a matter to be investigated or
about which an action or proceeding is to be instituted; and
(3) Publish a record concerning an action, proceeding, or an
investigation under, or a violation of, this chapter or a rule adopted or
an order issued under this chapter if the administrator determines it is
necessary or appropriate in the public interest and for the protection of
investors.
(b) Administrator powers to investigate. For the purpose of an
investigation or proceeding under this chapter, the administrator or its
designated officer may administer oaths and affirmations, subpoena witnesses,
seek compulsion of attendance, take evidence, require the filing of
statements, and require the production of any records that the administrator
considers relevant or material to the investigation or proceeding.
(c) Procedure and remedies for noncompliance. If a person does not appear
or refuses to testify, file a statement, produce records, or otherwise does
not obey a subpoena as required by the administrator under this chapter, the
administrator may apply to any court of competent jurisdiction or a court of
another state for an order to enforce compliance. The court may:
(1) Hold the person in contempt;
(2) Order the person to appear before the administrator;
(3) Order the person to testify about the matter under investigation or
in question;
(4) Order the production of records;
(5) Grant injunctive relief, including restricting or prohibiting the
offer or sale of securities or the providing of investment advice;
(6) Impose a civil penalty of not less than five hundred dollars ($500)
and not greater than five thousand dollars ($5,000) for each violation;
and
(7) Grant any other necessary or appropriate relief.
(d) Application for relief. This section does not preclude a person from
applying to any court of competent jurisdiction or a court of another state
for relief from a request to appear, testify, file a statement, produce
records, or obey a subpoena.
(e) Use immunity procedure. An individual is not excused from attending,
testifying, filing a statement, producing a record or other evidence, or
obeying a subpoena of the administrator under this chapter or in an action or
proceeding instituted by the administrator under this chapter on the ground
that the required testimony, statement, record, or other evidence, directly or
indirectly, may tend to incriminate the individual or subject the individual
to a criminal fine, penalty, or forfeiture. If the individual refuses to
testify, file a statement, or produce a record or other evidence on the basis
of the individual's privilege against self-incrimination, the administrator
may apply to any court of competent jurisdiction to compel the testimony, the
filing of the statement, the production of the record, or the giving of other
evidence. The testimony, record, or other evidence compelled under such an
order may not be used, directly or indirectly, against the individual in a
criminal case, except in a prosecution for perjury or contempt or otherwise
failing to comply with the order.
(f) Assistance to securities regulator of another jurisdiction. At the
request of a law enforcement or other governmental or regulatory agency or
self-regulatory organization, the administrator may provide assistance if the
requesting entity states that it is conducting an investigation to determine
whether a person has violated, is violating, or is about to violate a law or
rule of the other state or foreign jurisdiction relating to securities matters
that the requesting regulator administers or enforces. The administrator may
provide the assistance by using the authority to investigate and the powers
conferred by this section as the administrator determines is necessary or
appropriate. The assistance may be provided without regard to whether the
conduct described in the request would also constitute a violation of this
chapter or other law of this state if occurring in this state. In deciding
whether to provide the assistance, the administrator may consider whether the
requesting regulator is permitted and has agreed to provide assistance
reciprocally within its state, federal or foreign jurisdiction to the
administrator on securities matters when requested; whether compliance with
the request would violate or prejudice the public policy of this state; and
the availability of resources and employees of the administrator to carry out
the request for assistance.

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