Sec Sorn 42

SEC-42
SYSTEM NAME:
Enforcement Files.
SYSTEM LOCATION:
Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. Files may also
be maintained in the Commission’s Regional Offices that conducted an investigation or
litigation, or at a records management company under contract with the Commission. Closed
investigatory files are stored at a federal records center.
CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
Records are maintained on persons who have been involved in Commission investigations or
litigation, or in activities which violated or may have violated federal, state or foreign laws
relating to transactions in securities, the conduct of securities business or investment advisory
activities, and banking or other financial activities.
CATEGORIES OF RECORDS IN THE SYSTEM:
Records contain names and addresses of persons involved in Commission investigations or
litigation. Also, correspondence relevant to the matter, internal staff memoranda, Commission
Minutes and Commission Orders, copies of subpoenas issued in the course of the matter,
affidavits, transcripts of testimony and exhibits thereto, copies of pleadings and exhibits in
related private or governmental actions, documents and other evidence obtained in the course of
the matter, computerized records, working papers of the staff and other documents and records
relating to the matter, opening reports, progress reports and closing reports, and miscellaneous
records relating to investigations or litigation.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
15 U.S.C. 77s, 77t, 78u, 77uuu, 80a-41, and 80b-9. 17 CFR 202.5.
PURPOSE(S):
The records are maintained for purposes of the Commission’s investigations and actions to
enforce the federal securities laws. Additionally, the information in the system is used in
conjunction with the collection of amounts ordered to be paid in enforcement actions, a function
that is a necessary component of litigation.
ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING
CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES:
In addition to those disclosures generally permitted under 5 U.S.C. 552a(b) of the Privacy Act,
these records or information contained therein may specifically be disclosed outside the
Commission as a routine use pursuant to 5 U.S.C. 552 a(b)(3) as follows:
1. To appropriate agencies, entities, and persons when (a) it is suspected or confirmed that the
security or confidentiality of information in the system of records has been compromised; (b)
the SEC has determined that, as a result of the suspected or confirmed compromise, there is a
risk of harm to economic or property interests, identity theft or fraud, or harm to the security
or integrity of this system or other systems or programs (whether maintained by the SEC or

another agency or entity) that rely upon the compromised information; and (c) the disclosure
made to such agencies, entities, and persons is reasonably necessary to assist in connection
with the SEC’s efforts to respond to the suspected or confirmed compromise and prevent,
minimize, or remedy such harm.
2. To other federal, state, local, or foreign law enforcement agencies; securities self-regulatory
organizations; and foreign financial regulatory authorities to assist in or coordinate regulatory
or law enforcement activities with the SEC.
3. To national securities exchanges and national securities associations that are registered with
the SEC, the Municipal Securities Rulemaking Board; the Securities Investor Protection
Corporation; the Public Company Accounting Oversight Board; the federal banking
authorities, including, but not limited to, the Board of Governors of the Federal Reserve
System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation;
state securities regulatory agencies or organizations; or regulatory authorities of a foreign
government in connection with their regulatory or enforcement responsibilities.
4. By SEC personnel for purposes of investigating possible violations of, or to conduct
investigations authorized by, the federal securities laws.
5. In any proceeding where the federal securities laws are in issue or in which the Commission,
or past or present members of its staff, is a party or otherwise involved in an official capacity.
6. In connection with proceedings by the Commission pursuant to Rule 102(e) of its Rules of
Practice, 17 CFR 201.102(e).
7. To a bar association, state accountancy board, or other federal, state, local, or foreign
licensing or oversight authority; or professional association or self-regulatory authority to the
extent that it performs similar functions (including the Public Company Accounting
Oversight Board) for investigations or possible disciplinary action.
8. To a federal, state, local, tribal, foreign, or international agency, if necessary to obtain
information relevant to the SEC’s decision concerning the hiring or retention of an employee;
the issuance of a security clearance; the letting of a contract; or the issuance of a license,
grant, or other benefit.
9. To a federal, state, local, tribal, foreign, or international agency in response to its request for
information concerning the hiring or retention of an employee; the issuance of a security
clearance; the reporting of an investigation of an employee; the letting of a contract; or the
issuance of a license, grant, or other benefit by the requesting agency, to the extent that the
information is relevant and necessary to the requesting agency's decision on the matter.
10. To produce summary descriptive statistics and analytical studies, as a data source for
management information, in support of the function for which the records are collected and
maintained or for related personnel management functions or manpower studies; may also be
used to respond to general requests for statistical information (without personal identification
of individuals) under the Freedom of Information Act.
11. To any trustee, receiver, master, special counsel, or other individual or entity that is
appointed by a court of competent jurisdiction, or as a result of an agreement between the
parties in connection with litigation or administrative proceedings involving allegations of
violations of the federal securities laws (as defined in section 3(a)(47) of the Securities
Exchange Act of 1934, 15 U.S.C. 78c(a)(47)) or pursuant to the Commission’s Rules of
Practice, 17 CFR 201.100 – 900 or the Commission’s Rules of Fair Fund and Disgorgement
Plans, 17 CFR 201.1100-1106, or otherwise, where such trustee, receiver, master, special
counsel, or other individual or entity is specifically designated to perform particular functions
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with respect to, or as a result of, the pending action or proceeding or in connection with the
administration and enforcement by the Commission of the federal securities laws or the
Commission’s Rules of Practice or the Rules of Fair Fund and Disgorgement Plans.
12. To any persons during the course of any inquiry, examination, or investigation conducted by
the SEC’s staff, or in connection with civil litigation, if the staff has reason to believe that the
person to whom the record is disclosed may have further information about the matters
related therein, and those matters appeared to be relevant at the time to the subject matter of
the inquiry.
13. To interns, grantees, experts, contractors, and others who have been engaged by the
Commission to assist in the performance of a service related to this system of records and
who need access to the records for the purpose of assisting the Commission in the efficient
administration of its programs, including by performing clerical, stenographic, or data
analysis functions, or by reproduction of records by electronic or other means. Recipients of
these records shall be required to comply with the requirements of the Privacy Act of 1974,
as amended, 5 U.S.C. 552a.
14. In reports published by the Commission pursuant to authority granted in the federal securities
laws (as such term is defined in section 3(a)(47) of the Securities Exchange Act of 1934, 15
U.S.C. 78c(a)(47)), which authority shall include, but not be limited to, section 21(a) of the
Securities Exchange Act of 1934, 15 U.S.C. 78u(a)).
15. To members of advisory committees that are created by the Commission or by Congress to
render advice and recommendations to the Commission or to Congress, to be used solely in
connection with their official designated functions.
16. To any person who is or has agreed to be subject to the Commission’s Rules of Conduct, 17
CFR 200.735-1 to 200.735-18, and who assists in the investigation by the Commission of
possible violations of the federal securities laws (as such term is defined in section 3(a)(47)
of the Securities Exchange Act of 1934, 15 U.S.C. 78c(a)(47)), in the preparation or conduct
of enforcement actions brought by the Commission for such violations, or otherwise in
connection with the Commission’s enforcement or regulatory functions under the federal
securities laws.
17. To a Congressional office from the record of an individual in response to an inquiry from the
Congressional office made at the request of that individual.
18. To members of Congress, the press, and the public in response to inquiries relating to
particular Registrants and their activities, and other matters under the Commission’s
jurisdiction.
19. To prepare and publish information relating to violations of the federal securities laws as
provided in 15 U.S.C. 78c(a)(47)), as amended.
20. To respond to subpoenas in any litigation or other proceeding.
21. To a trustee in bankruptcy.
22. To any governmental agency, governmental or private collection agent, consumer reporting
agency or commercial reporting agency, governmental or private employer of a debtor, or
any other person, for collection, including collection by administrative offset, federal salary
offset, tax refund offset, or administrative wage garnishment, of amounts owed as a result of
Commission civil or administrative proceedings.

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DISCLOSURE TO CONSUMER REPORTING AGENCIES:
When the Commission seeks to collect a debt arising from a civil action or administrative
proceeding, it may disclose the following information to a consumer reporting agency: (i)
information necessary to establish the identity of the debtor, including name, address and
taxpayer identification number or social security number; (ii) the amount, status, and history of
the debt; and (iii) the fact that the debt arose from a Commission action or proceeding to enforce
the federal securities laws.
POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING,
RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM:
STORAGE:
Records are maintained in electronic and paper format. Electronic records are stored in
computerized databases and/or on computer disc. Paper records and records on computer disc
are stored in locked file rooms and/or file cabinets.
RETRIEVABILITY:
The records are retrieved by the name under which the investigation is conducted or
administrative or judicial litigation is filed. Access to information about an individual may be
obtained through the Commission's Name-Relationship Search Index system by the name of the
individual. Information concerning an individual may also be obtained by reference to
computer-based indices maintained by the Division of Enforcement.
SAFEGUARDS:
Records are safeguarded in a secured environment. Buildings where records are stored have
security cameras and 24 hour security guard service. The records are kept in limited access areas
during duty hours and in locked file cabinets and/or locked offices or file rooms at all other
times. Access is limited to those personnel whose official duties require access. Computerized
records are safeguarded through use of access codes and information technology security.
Contractors and other recipients providing services to the Commission are contractually
obligated to maintain equivalent safeguards.
RETENTION AND DISPOSAL:
These records will be maintained until they become inactive, at which time they will be retired or
destroyed in accordance with records schedules of the United States Securities and Exchange
Commission and as approved by the National Archives and Records Administration.
SYSTEM MANAGER(S) AND ADDRESS:
Director, Division of Enforcement, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549-0801; Records Officer, Office of Records Management Services,
Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549; New York
Regional Office, Regional Director, 3 World Financial Center, Suite 400, New York, NY 102811022; Boston Regional Office, Regional Director, 33 Arch Street, 23rd Floor, Boston, MA
02110-1424; Philadelphia Regional Office, Regional Director, The Mellon Independence Center,
701 Market Street, Philadelphia, PA 19106-1532; Miami Regional Office, Regional Director,
801 Brickell Ave., Suite 1800, Miami, FL 33131, Atlanta Regional Office, Regional Director,
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3475 Lenox Road, N.E., Suite 1000, Atlanta, GA 30326-1232; Chicago Regional Office,
Regional Director, 175 W. Jackson Boulevard, Suite 900, Chicago, IL 60604; Denver Regional
Office, Regional Director, 1801 California Street, Suite 1500, Denver, CO 80202-2656; Fort
Worth Regional Office, Regional Director, Burnett Plaza, Suite 1900, 801 Cherry Street, Unit
18, Fort Worth, TX 76102; Salt Lake Regional Office, Regional Director, 15 W. South Temple
Street, Suite 1800, Salt Lake City, UT 84101; Los Angeles Regional Office, Regional Director,
5670 Wilshire Boulevard, 11th Floor, Los Angeles, CA 90036-3648; San Francisco Regional
Office, Regional Director, 44 Montgomery Street, Suite 2600, San Francisco, CA 94104.
NOTIFICATION PROCEDURE:
All requests to determine whether this system of records contains a record pertaining to the
requesting individual may be directed to the FOIA/PA Officer, Securities and Exchange
Commission, 100 F Street, NE, Washington, DC 20549-5100.
RECORD ACCESS PROCEDURES:
Persons wishing to obtain information on the procedures for gaining access to or contesting the
contents of these records may contact the FOIA/PA Officer, Securities and Exchange
Commission, 100 F Street, NE, Washington, DC 20549-5100.
CONTESTING RECORD PROCEDURES:
See Record Access Procedures above.
RECORD SOURCE CATEGORIES:
Information in these records is supplied by: Individuals including, where practicable, those to
whom the information relates; witnesses, banks, corporations, or other entities; self-regulatory
organizations; the Postal Inspection Service, the Department of Justice, state securities
commissions, other Federal, state, or local bodies and law enforcement agencies or foreign
governmental authorities; public sources, i.e., libraries, newspapers, television, radio, court
records, filings with Federal, state, and local bodies; filings made with the SEC pursuant to law;
electronic information sources; other offices within the Commission; documents, litigation,
transcripts of testimony, evidence introduced into court, orders entered by a court and
correspondence relating to litigation; pleadings in administrative proceedings, transcripts of
testimony, documents, including evidence entered in such proceedings, and miscellaneous other
sources.
EXEMPTIONS CLAIMED FOR THE SYSTEM:
Under 5 U.S.C. 552a(k)(2), this system of records is exempted from the following provisions of
the Privacy Act, 5 U.S.C. 552a(c)(3), (d), (e)(1), (e)(4)(G), (H), and (I), and (f) and 17 CFR
200.303, 200.304, and 200.306, insofar as it contains investigatory materials compiled for law
enforcement purposes. This exemption is contained in 17 CFR 200.312(a)(1).

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