Attorney general would secure merger filings and set disclosure rules

People filing a pre-merger notice must provide the attorney general an electronic copy of the federal Hart-Scott-Rodino form, and the attorney general must offer a secure way to receive and store the materials. The requirement covers filings and additional documents submitted under Colorado's pre-merger notification law. The supplied filing passage ends after the word "if," so the conditions that trigger the filing requirement cannot be confirmed. The attorney general may not charge a fee for filing or providing the form or additional documents. The act is scheduled to take effect at 12:01 a.m. on the day after the 90-day period following final adjournment, subject to a referendum petition and voter approval.

The attorney general may share merger materials with another state only when that state has comparable confidentiality rules and assures Colorado that it will protect the information. The rules cover federal merger forms and related documents filed with the Colorado attorney general. The attorney general must give the person who submitted the materials at least five business days' notice before sharing them. Unless a court order or another law provides otherwise, the attorney general must destroy or return the materials. Materials must be destroyed or returned no later than 120 days after the later of the transaction's closing or the end of legal proceedings directly related to that transaction.

After written notice and a three-business-day chance to fix the problem, the attorney general may seek a civil penalty of up to $10,000 for each day of noncompliance. The penalty applies to a person who does not comply with the specified pre-merger filing requirements. The penalty may apply only to violations of the filing, form-submission, or document-submission requirements identified in the act. The penalty remains subject to due-process and other procedural rules governing the attorney general. The act is scheduled to take effect at 12:01 a.m. on the day after the 90-day period following final adjournment, subject to a referendum petition and voter approval.