(a) The administration of this chapter shall be vested in the Secretary of State, who is designated commissioner of securities.

(b) The commissioner shall have the authority to administer oaths in and to prescribe forms for all matters arising under this chapter. The commissioner shall cooperate with the administrators of the securities laws of other states and of the United States with a view to assisting those administrators in the enforcement of their securities and investment adviser laws and to achieving maximum uniformity in the interpretation of like provisions of the laws administered by them and in the forms which are required to be filed under such laws.

(c) The commissioner shall have authority to employ examiners, clerks and stenographers, and other employees as the administration of that portion of this chapter vested in him may require. The commissioner shall also have authority to appoint and employ investigators who shall have, in any case that there is reason to believe a violation of this chapter has occurred or is about to occur, the right and power to serve subpoenas and to swear out and execute search warrants and arrest warrants.

(d) The commissioner shall have the power to make such rules and regulations from time to time as he may deem necessary and proper for the enforcement of this chapter. Such rules and regulations shall be adopted, promulgated, and contested as provided in Chapter 13 of Title 50, the "Georgia Administrative Procedure Act."

(e) The commissioner or any persons employed by him shall be paid, in addition to their regular compensation, the transportation fare, board, lodging, and other traveling expenses necessary and actually incurred by each of them in the performance of their duties under this chapter.

(f) The commissioner shall appoint, with the approval of the Governor, a person as assistant commissioner and delegate such of his powers and duties under this chapter to such assistant commissioner as he desires.

(g) To encourage uniform interpretation and administration of this chapter and effective securities regulation and enforcement, the commissioner may cooperate with the securities agencies or administrators of one or more states, Canadian provinces or territories, another country, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Securities Investor Protection Corporation, any self-regulatory organization, any national or international organization, securities officials or agencies, or any governmental law enforcement or regulatory agency. The cooperation authorized may include, but is not limited to, participation in a central depository for registration under this chapter and for documents or records required or allowed to be maintained under this chapter and the designation of any such system as an agent for registration or receipt.

(h) Neither the commissioner, the assistant commissioner, nor any employee of the commissioner may use for personal gain or benefit information filed with or obtained by the commissioner which is not public information nor may the commissioner, assistant commissioner, or any employee of the commissioner conduct securities dealings based upon information filed with or obtained by the commissioner, even though such information is known to the public, if there has not been a sufficient period for the securities markets to assimilate the information.

(i) Except as provided in subsection (j) of this Code section, information and documents filed with or obtained by the commissioner are public information and are available for public examination.

(j) The following information and documents do not constitute public information under subsection (i) of this Code section and shall be confidential:

(1) Information or documents obtained by the commissioner in connection with an investigation under Code Section 10-5-11;

(2) Information or documents filed with the commissioner in connection with a registration statement or exemption filing under this chapter which constitute trade secrets or commercial or financial information of a person for which that person is entitled to and has asserted a claim of confidentiality or privilege authorized by law; and

(3) Any document or record specifically designated as confidential in accordance with this chapter or the rules and regulations promulgated under this chapter.