(a) The Administrator shall administer this chapter.
(b) It is unlawful for the Administrator or officer, employee or designee of the Administrator to use for personal benefit or the benefit of others records or other information obtained by or filed with the Administrator that are not public under section 667(b). This chapter does not authorize the Administrator or an officer, employee or designee of the Administrator to disclose the record or information, except in accordance with section 662, 667(c), or 668.
(c) This chapter does not create or diminish any privilege or exemption that exists at common law, by statute, rule or otherwise.
(d) The Administrator may develop and implement investor education initiatives to inform the public about investing in securities, with particular emphasis on the prevention and detection of securities fraud. In developing and implementing these initiatives, the Administrator may collaborate with public and nonprofit organizations with an interest in investor education. The Administrator may accept grants or donations from a person that is not affiliated with the securities industry or from a nonprofit organization, regardless of whether or not the organization is affiliated with the securities industry, to develop and implement investor education initiatives. This subsection does not authorize the Administrator to require participation or monetary contributions of a registrant in an investor education program.
(e) There is created a Fund within the Treasury of the Virgin Islands known as the Securities Investor Education and Training Fund to provide funds for the purposes specified in paragraph (d). All monies received by the State by reason of civil penalties pursuant to this chapter shall be deposited in the Securities Investor Education and Training Fund. The Fund shall also consist of monies appropriated thereto by the Legislature.