To promote more effective regulation and reduce regulatory burden through supervisory information sharing, the commissioner or commissioner’s designee may furnish information to or receive information from a nationwide multistate licensing system for the purpose of regulation of the financial services industry. Information furnished by the commissioner to any third party which is confidential or privileged in the commissioner’s possession remains confidential or privileged in the possession of the third party. Information received by the commissioner from any third party which is confidential or privileged in the third-party’s possession remains confidential or privileged in the commissioner’s possession.