(1) This chapter shall be administered by the Secretary of State of Mississippi.

(2) Neither the administrator nor any employees of the administrator shall use any information which is filed with or obtained by the administrator which is not public information for personal gain or benefit, nor shall the administrator or any employees of the administrator conduct any commodity dealings whatsoever based upon any such information, even though public, if there has not been a sufficient period of time for the commodity markets to assimilate such information.

(3)

(a) Except as provided in paragraph (b) of this subsection (3), all information collected, assembled or maintained by the administrator is public information and is available for the examination of the public as provided by the Mississippi Public Records Act of 1983.

(b) The following are exceptions to paragraph (a) of this subsection (3) which are deemed to be confidential:

(i) Information obtained in private investigations pursuant to Section 75-89-19;

(ii) Information made confidential by the provisions of the Mississippi Public Records Act of 1983, and any statutory exceptions thereto;

(iii) Information obtained from federal agencies which may not be disclosed under federal law.

(c) The administrator in his discretion may disclose any information made confidential under paragraph (3)(b) of this section to persons identified in subsection (1) of Section 75-89-29.

(d) No provision of this chapter either creates or derogates any privilege which exists at common law, by statute or otherwise when any documentary or other evidence is sought under subpoena directed to the administrator or any employee of the administrator.