(a) The SAM may:
(1) generally supervise the alternative market business being carried on in or from the Territory;
(2) ensure compliance with and enforcement of the laws and regulations relating to the conduct of the alternative market businesses;
(3) examine and prepare reports pursuant to section 6604 of this title from time to time on all matters connected with the alternative market;
(4) summon or subpoena persons to attend a hearing or to testify as a witness, to enforce attendance, and to compel production of books and evidence relevant to an inquiry necessary or appropriate under this chapter;
(5) require examination of witnesses under oath, and to administer oaths;
(6) at all reasonable times have access to and may take copies of all the books, securities, records, and documents of any SPFC, Securitization Entity, manager, agent, adjuster or broker which relate to the alternative market business and any officer, agent or person in charge, possession, custody or control of any of those books, securities, records or documents and to issue fines against any person or entity who refuses or neglects to afford such access;
(7) make an inquiry to any Securitization Entity or its manager relating to the conduct of its business or its financial affairs and to require such Securitization Entity or manager to make prompt and explicit answers and to issue fines against any person or entity which fails or refuses to provide such information and to suspend the license of the person or entity;
(8) issue licenses to Securitization Entities and Managers in accordance with this chapter; and
(9) appoint an advisory board to review all applications for licenses which may be issued under this chapter.
(b) The SAM, or any of the SAM's employees, must not be directly or indirectly:
(1) a shareholder, member, manager or partner in any company or business entity that is licensed under this chapter; or
(2) a shareholder, member, manager or partner in a company or business entity that is authorized under this chapter to act as a manager, agent or broker.
(c) The SAM or any of the SAM's employees who has a conflict of interest as defined in subsection (b) of this section shall recuse himself from addressing any such matter before the Office of the Commissioner of Insurance, Division of Alternative Markets and International Reinsurance.