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U.S. Securities and Exchange Commission

SEC Request Relating to Information Pertaining to the Terrorist Attacks



To All Securities-Related Entities:

Washington, D.C., October 18, 2001 – The Securities and Exchange Commission today asked all securities-related entities (whether or not registered with the SEC) to cooperate voluntarily with law enforcement authorities in their ongoing investigations in the wake of the recent terrorist attacks on this country. Over the last month, brokers, dealers, investment advisers, investment companies, transfer agents, exchanges and other self-regulatory organizations and industry groups have been asked to review their records and work with law enforcement officials to identify any transactions or relationships with certain individuals or entities that have been identified by the FBI and other law enforcement agencies. To facilitate these efforts, we, along with other financial regulators, have worked with law enforcement officials on a mechanism that will assure the expeditious distribution of a unified list of individuals and entities to a broad range of financial institutions. This list will be referred to as the Control List. Because the Control List contains confidential information, we ask that you disseminate the information within your institution only on a need-to-know basis. Under no circumstances should the Control List or the information contained in it be disseminated outside your institution.

Law enforcement officials will provide the Control List to the SEC. We will, in turn, send your institution a copy of the Control List through e-mail. We will also send electronic updates to the list on a regular basis. Identical Control Lists (and updates) will also be disseminated by the Federal Reserve Bank of New York to banking institutions and by the Commodities Futures Trading Commission to futures commission merchants. We need your immediate help in starting this system. We request that you designate a senior-level individual within your firm who appreciates the sensitive nature of the investigation and will exercise appropriate discretion to be the point person for all communications relating to the Control List. Please provide this person's name, title, telephone number and, most importantly, e-mail address by Friday, October 26, 2001. Please send this information to the following e-mail address: Enf-Search@sec.gov

Once this information is received, the Control List will be distributed, and your firm will be asked voluntarily to check its records to determine whether any of the individuals or entities on the Control List have or have had any transactions or relationships with your firm in the United States or elsewhere.

If your firm identifies any transaction or relationship with any of the individuals or entities, you are requested to send an e-mail message promptly to Enf-Search@sec.gov indicating that you have a positive response and the nature of the information. Following that, the SEC will contact your firm's point person and arrange for receipt of relevant account, trading and other information from your firm.

Please note the following:

  • Similar requests have been issued to banking institutions jointly by financial institution supervisors, and to futures commission merchants by the CFTC. To minimize the burden on those entities subject to regulation by both the SEC and the CFTC such an entity may provide responsive information for the entire entity to either the SEC or the CFTC, after notifying both agencies that it has a positive response. In the alternative, such an entity may choose instead to provide responsive information concerning a particular area of regulatory authority to the appropriate regulatory agency.
  • Some securities-related entities are affiliated with banks or similar affiliates that are subject to suspicious activity reporting requirements of bank regulators. In accordance with the suspicious activity reporting rules, those affiliates are also reminded to report any suspicious activity related to any of the names on the Control List by filing a Suspicious Activity Report (SAR) with the Treasury Department's Financial Crimes Enforcement Network (FinCEN). If the information is time sensitive, it may also be reported through the FinCEN hotline at 1-866-556-3974 in addition to filing a written SAR.
  • This request is separate from the request issued by the SEC on September 26, concerning compliance with President Bush's September 24 executive order freezing United States assets of and blocking transactions with identified individuals and organizations. The executive order can be viewed at www.treasury.gov/terrorism.html. Questions concerning the asset freeze should be directed to the Treasury Department's Office of Foreign Assets Control (OFAC) at 1-800-540-6322. Information concerning OFAC's Specially Designated Nationals List is available at www.ustreas.gov/ofac.

We thank you for all of your efforts in this most important endeavor. Any questions concerning this voluntary request should be directed to Enf-Search@sec.gov or (202) 942-4806.



Modified: 10/18/2001