1. (a) An employee must not engage in a financial transaction involving a CALCTRA auction using nonpublic information, nor allow the improper use of nonpublic information to further that employee's own private interest or that of another, whether through advice or recommendation, or by knowing unauthorized disclosure.

2. (b) For purposes of this section, nonpublic information is information that the employee gains by reason of state employment and that this employee knows or reasonably should know has not been made available to the general public. It includes information that this employee knows or reasonably should know:

   1. (1) Is routinely exempt from disclosure under the California Public Records Act (Government Code Sections 7920.000-7931.000) or otherwise protected from disclosure by statute, executive order, or regulation;
   2. (2) Is designated as confidential by an agency; or
   3. (3) Has not actually been disseminated to the general public and is not authorized to be made available to the public on request.

Note: Authority cited: Sections 2801, 2808 and 2809, Penal Code. Reference: Sections 2806 and 2808, Penal Code.

History

1. New section filed 11-30-2021; operative 1-1-2022 (Register 2021, No. 49).

2. Change without regulatory effect amending subsection (a) filed 2-11-2022 pursuant to section 100, title 1, California Code of Regulations (Register 2022, No. 6).

3. Change without regulatory effect amending subsections (a) and (b)(1) filed 1-7-2026 pursuant to section 100, title 1, California Code of Regulations (Register 2026, No. 2).