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Thomas H.

Kean July 16, 2003


CHAIR

Lee H. Hamilton Richard M. Humes, Associate General Counsel


VICE CHAIR
Securities and Exchange Commission
Richard Ben-Veniste 450 Fifth Street, N.W.
Washington, D.C. 20549
Max Cleland

Frederick F. Fielding Dear Mr. Humes:


Jamie S. Gorelick
As you know, the Commission sent a document request to the SEC
Slade Gorton nearly a month ago, on June 19, 2003, entitled SEC Document Request No. 1.
That request asks for copies of investigative and other non-public files of the
John F. Lehman
SEC relating to the SEC's investigation into any trading activity designed to
Timothy J. Roemer profit from, or to avoid losses from, the September 11, 2001 attacks. This
request was made in connection with the Commission's statutory mandate,
James R. Thompson
pursuant to Public Law 107-306, to investigate the facts and circumstances
surrounding the September 11, 2001 terrorist attacks, including the nation's
Philip D. Zelikow preparedness for, and immediate response to, those attacks, as well as to
EXECUTIVE DIRECTOR
evaluate the lessons learned from those attacks and to make recommendations
for preventing future attacks.

We understand that the files in this matter contain "financial records"


of "customers," as those terms are defined in the Right to Financial Privacy
Act of 1978, 12 U.S.C. sees. 3401-3422. We have reason to believe that that
information is relevant to our investigation.

We will establish and maintain such safeguards as are necessary and


appropriate to protect the confidentiality of files to which access is granted,
and information derived therefrom. The files and information may, however,
be used by the Commission for the purposes set forth in Public Law 107-306.

We look forward to prompt receipt of the requested documents. If you


have any questions about this matter, please call me right away at 33 1-4065.

JYours sincerely

)aniel Marcus
General Counsel

cc: John Knepper, U.S. Department of Justice


301 7'h Street SW, Room 5125
Washington, DC 20407
T 202.331.4060 F 202.296.5545
www.9-1 lcommission.gov
DRAFT July 22, 2003
Daniel Marcus
General Counsel
National Commission on Terrorist Attacks Upon the United States
301 7th Street SW, Room 5125
Washington, D.C. 20407

Re: Securities and Exchange Commission

Dear Mr. Marcus:

This will confirm my conversation of today with Mr. Greenburg of your staff regarding the
access request that the 9/11 Commission has made to the SEC. Specifically, we agreed that the
9/11 Commission would notify the SEC if the records we produce are requested by private
parties and would give the SEC advance notice if the 9/11 Commission determines to publicly
disclose the SEC's records.

Sincerely,

Richard M. Humes
Associate General Counsel

cc: John Knepper, DOJ


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 2O549

OFFICE OF THE
GENERAL COUNSEL

July 22,2003

Daniel Marcus
General Counsel
National Commission on Terrorist Attacks Upon the United States.
301 7th Street SW, Room 5125
Washington, D.C. 20407

Dear Mr. Marcus:

Re: Securities and Exchange Commission

This will confirm my conversation of today with Mr. Greenburg of your staff regarding the
access request that the 9/11 Commission has made to the SEC. Specifically, we agreed that the
9/11 Commission would notify the SEC if the documents we produce are requested by private
parties and would give the SEC advance notice if the 9/11 Commission determines to publicly
disclose the SEC's documents.

SinCferely,

Richard M. Humes
Associate General Counsel

cc: John Knepper, DOJ


UNITED STATES

SECURITIES AND EXCHANGE COMMISSION


WASHINGTON, D.C. 2O549

OFFICE OF THE
GENERAL COUNSEL

July 30, 2003

BY HAND DELIVERY

Daniel Marcus
General Counsel
National Commission on Terrorist Attacks Upon the United States
301 7th Street SW, Room 5125
Washington, D.C. 20407

Re: Securities and Exchange Commission

Dear Mr. Marcus:

Enclosed is a copy of the document responsive to the 9/11 Commission's access request
to the Securities and Exchange Commission ("SEC"). The responsive document is an
Information Memorandum, dated May 15, 2002, from the Division of Enforcement to the SEC
Chairman and Commissioners with Exhibits A through F. The Information Memorandum
contains a list of the exhibits.

Sincerely,

(Wc
I"
Richard M. Humes
Associate General Counsel

cc w/o enclosures: John Knepper, DOJ


Mail:: INBOX: Additional information from J. Cella Page 1 of 1

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Date: Mon, 6 Oct 2003 18:07:46 -0400
From: "Humes, Richard M." <HumesR@SEC.GOV>^
To: "'DGreenburg@9-11commission.gov'" <DGreenburg@9-11 commission.gov>4f
Cc: "Humes, Richard M." <HumesR@SEC.GOV>^
Subject: Additional information from J. Cella
NY Fed: Debbie Perelmuter (212) 720-6765;
OCC: John Fennell (312) 322-6274

Time periods for Bluesheeting of index products: exchange traded


funds (August 20 - September 10); options on indexes (August 27 - September
10). A review of trading in these products was done for 30 days prior. Any
trading activity that was deemed unusual earlier than August 27th was also
Bluesheeted.
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http://kinesis.swishmail.com./webmail/imp/message.php?index=1429 10/7/03
WED 17:27 FAX 202 942 9537 GC GEN LIT i]002

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON. D.C. 2O5A9

OFFICE OF THE
GENERAL COUNSEL

October 15, 2003

Via Facsimile and Mail

Daniel Marcus
General Counsel
National Commission on Terrorist Attacks Upon the United States
301 7* St. SW, Room 5125
Washington, DC 20407
202-296-5545 (facsimile)

Dear Mr. Marcus:

I am writing to memorialize a telephone call I had with Doug Greenburg on 10 October 2003.
Staff from the Securities and Exchange Commission's ("SEC") Office of International Affairs
were also on the telephone call. That telephone call concerned your 26 September 2003 request
for documents relating to the investigation by the SEC into trading activity potentially designed
to profit from, or avoid losses from, the 11 September terrorist attacks ("SEC Document Request
No. 2"). Specifically, you asked for information received from any foreign government agency
or entity.

A review of our files revealed that information responsive to SEC Document Request No. 2
includes non-public information we received from foreign securities authorities pursuant to our
bilateral Memoranda of Understanding and other information-sharing arrangements. As we
discussed with Mr. Greenburg, we requested non-public information from foreign securities
authorities pursuant to these MOUs, which have standard provisions on use and confidentiality
of information (see MOUs previously sent to Mr. Greenburg).

Non-public information provided to us under these MOUs is generally subject to limitations on


disclosure in the jurisdiction of the requested authority. In this regard, the foreign securities
authorities provide non-public information to us with the understanding that the information's
use would be limited to enforcing the federal statutes administered by the SEC (e.g., bringing
civil and administrative proceedings, and assisting in a criminal prosecution of securities related
offenses). If the information is used for any other purpose, we are obliged pursuant to the MOUs
to "inform the [foreign securities authority] of [the SEC's] intention and provide the [foreign
securities authority] the opportunity to oppose such use." (See, for example, Clause 7 of the
MOU with the Australian Securities Commission; Section 5 of the MOU with the German
Bundesaufsichtsamt fur den Wertpapierhandel; and Part V of the MOU with the UK Securities
and Investments Board.)
03 WED 17:27 FAX 202 942 9537 GC GEN LIT i]003

At the time we made our requests for assistance to the foreign securities authorities, the National
Commission on Terrorist Attacks Upon the United States ("NCTA") had not yet been created,
and our requests did not contemplate that the information would be used for the purposes set out
in the NCTA's mandate. We are under an obligation to inform the foreign securities authorities
of the NCTA's request and seek their consent under the MOU prior to any disclosure of the
information.

We understand the critical need for the NCTA to have this information, and anticipate that our
counterparts will appreciate the importance of the NCTA's investigation. We propose to obtain
their consent as expeditiously as possible. This process also will enable us to honor our
commitments and to preserve our relationship with our counterparts so that we can continue to
obtain effective and prompt cooperation in connection with the investigation and prosecution of
violations of the federal securities laws.

Please do not hesitate to contact me if you would like to discuss this matter further. We will be
in touch with you to update you on the progress of our discussions with our foreign counterparts.

Very truly yours,

Melinda Hardy
Assistant General Counsel
202-942-0877

cc: Doug Gxeenburg

Ethiopis Tafara
Director, SEC Office of International Affairs
Thomas H. Kean VIA FACSIMILE
CHAIR

Lee H. Hamilton October 16, 2003


VICE CHAIR

Richard Ben-Veniste
Mr. Giovanni P. Prezioso
Max Cleland General Counsel
Securities and Exchange Commission
Frederick F. Fielding 450 Fifth Street, N.W.
Jamie S. Gorelick Washington, D.C. 20549
Slade Gorton Dear Mr. Prezioso:
John F. Lehman
I am writing in response to Melinda Hardy's letter of October 15, 2003, which
Timothy J. Roemer concerned our request for reports of investigations into pre-9/11 trading the
James R. Thompson SEC received from foreign governments. Ms. Hardy's letter stated the SEC's
position that the Memorandums of Understanding (MOUs) pursuant to which
the SEC received these reports prohibit their disclosure to our Commission
Philip D. Zelikow
EXECUTIVE DIRECTOR without consent of the governments of origin. Upon review of the MOUs
provided as examples by the SEC, we disagree with this interpretation and
request that the SEC reconsider it.

In our view, the MOUs at issue plainly allow the reports to be shared with our
Commission. For example, the MOU with Germany allows information
received thereunder to be used as follows:

(a) for the purpose stated in the request with respect to ensuring
compliance with, or enforcement of, the laws or regulations of
the requesting Authority .. . and

(b) for purposes within the general framework of the use stated in
the request, including conducting a civil or administrative
proceeding, assisting in a self-regulatory organization's
surveillance or enforcement activities, assisting in a criminal
prosecution, or conducting any investigation related thereto for
any criminal charge applicable to the violation of the
provisions specified in the request.

301 7lh Street SW, Room 5125


Washington, DC 20407
T 202.331.4060 F 202.296.5545
www.9-1 lcommission.gov
Mr. Giovanni P. Prezioso
October 16, 2003
Page 2

As you know, our Commission has been tasked by Congress with


investigating all facts and circumstances related to the 9/11 attacks, a mandate
which includes any effort to profit from those attacks through illicit securities
trading activity. Our investigation of "insider trading" in advance of 9/11 falls
squarely within the "general framework of the use" for which the information
was provided - investigating illegal trading by persons with knowledge of the
terrorist attacks. Indeed, we do not agree with the position that a foreign
government would allow its information to be used by a self-regulatory
organization - a non-government actor — to conduct "surveillance activities"
related to insider trading, but would deny the same right to a federal
Commission tasked by Congress and the President to investigate the same
illicit trading. The SEC's contrary interpretation appears to rest on a wooden
and restrictive reading of the MOUs.

We cannot agree with the SEC's position that we are not entitled to the
information because our Commission "had not yet been created" at the time of
the SEC's requests for information. This fact is irrelevant under the MOUs,
which do not designate specific entities which can receive the information.
Instead, they allow sharing of the information "for purposes within the general
framework" of the request. We believe that our investigation of insider
trading in advance of 9/11 falls directly within this general framework.

We are sensitive to the need for the SEC to maintain strong relations with its
foreign counterparts. In the course of our investigation, we have often sought
extremely sensitive information that departments and agencies of the U.S.
government have received from foreign sources. Much of this information
concerned vital matters of national security obtained from foreign law
enforcement and intelligence agencies. Every other agency from whom we
have sought such information has found a way to provide it to us without
compromising its relations with its foreign counterparts. We hope and expect
the SEC can do the same, and our reading of the MOUs suggests no reason
any foreign government would object to our receiving the information.

Although we appreciate the SEC's stated efforts to obtain the relevant


consents, we fear the delays inherent in the process may prevent the necessary
>

Mr. Giovanni P. Prezioso


October 16, 2003
PageS

approvals from being received in time for us to fulfill our statutory mandate.
For this reason, I urge you to reconsider your position and make the reports
available to us immediately.

Please feel free to contact me to discuss this matter further.

Sincerely,

Janiel Marcus
General Counsel

cc: Richard Humes, Esq.


Melinda Hardy, Esq.
r X5^22/03 WED 17:14 FAX 202 942 9537 GC GEN LIT ®002

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON. D.C. 2O5A9

OFFICE OF THE
GENERAL COUNSEL _ , ~,nni
October 22,2003

Via Facsimile and Mail


(202) 296-5545

Daniel Marcus
General Counsel
National Commission on Terrorist Attacks Upon the United States
301 7th Street SW, Room 5125
Washington, DC 20407

Dear Mr. Marcus:

I am writing to follow up on your letter of October 16, 2003, and to confirm my


understanding of the approach that the Commission staff will be taking regarding the
matter addressed in the letter (Item No. 2 of SEC Document Request No. 2). As
discussed with Doug Greenburg of your staff, we are in the process of asking the foreign
regulators from whom we received reports to authorize us to disclose those reports to
you. The staff of the Commission's Office of International Affairs is advising the foreign
regulators that if they do not object by October 24, 2003, SEC staff will provide the
requested materials to the 9-11 Commission. It is possible, of course, that foreign
regulators will want further information regarding the 9-11 Commission or will propose
terms or circumstances for disclosure of their documents to the Commission. We will
keep Mr. Greenburg abreast of any such developments and will seek to resolve any
objections promptly.

We appreciate the efforts of you and your staff to seek a constructive approach to
resolving this matter consistent with the various important policy objectives that must be
taken into account Please do not hesitate to contact me at (202) 942-0900 if you should
have any questions or would like to discuss this matter further.

Sincerely yours,

\i Prezioso
cc: Doug Greenburg
Counsel, National Commission on Terrorist Attacks

Ethiopis Tafara
Director, SEC Office of International Affairs
WITH DRAWAL NOTICE

RG: 148
Box: 00007 Folder: 0018 Document: 11
Series: Team 4 Files

Copies: 1 Pages: 1

ACCESS RESTRICTED

The item identified below has been withdrawn from this file:

Folder Title: Correspondence


Document Date:
Document Type: Memorandum
Special Media:
From:
To:

Subject: memo from FBI to Doug Greenburg re San Diego inter


view request

In the review of this file this item was removed because access to it is
restricted. Restrictions on records in the National Archives are stated in
general and specific record group restriction statements which are available
for examination.

NND:401
Withdrawn: 10-23-2008 by:

RETRIEVAL #: 401 00007 0018 11


System DocID: 5206 I
UNITED STATES

SECURITIES AND EXCHANGE COMMISSION


WASHINGTON, D.C. 3O549

OFFICE OF THE
GENERAL. COUNSEL.

November 4, 2003

BY HAND DELIVERY

Daniel Marcus
General Counsel
National Commission on Terrorist Attacks Upon the United States
301 7th Street SW, Room 5125
Washington, D.C. 20407

Re: SEC Document Request No. 2

Dear Mr. Marcus:

Enclosed are copies of documents (including a CD containing the MaST database)


responsive to the 9-11 Commission's second document request to the Securities and Exchange
Commission. As we discussed, with respect to your request for written reports or summaries
from foreign government agencies, most of the responsive materials are enclosed. Included with
this group of materials is a letter from the Australian Securities & Investments Commission
("ASIC") authorizing us to produce responsive materials and requesting that we forward ASIC's
letter to you. Responsive documents from three countries are not enclosed. We have agreed to
make documents from one of those countries (Japan) available for you to review at our office at
your convenience. We are still awaiting final responses from two other countries (the United
Kingdom and Italy); as we discussed, we are hopeful that we will soon be able to make
responsive documents from these countries available for your review.

Sincerely,

(It*
Melinda Hardy
Assistant General Counsel

Enclosures
Unclassified

Memorandum

To: Pat O'Brien

From: Doug Greenburg

Date: February 11, 2004

Re: UAE Article

Per our discussion, attached is the 1/17/04 AP article quoting Sultan bin Nasser al-
Suweidi. The key quotes are on the second page.

Unclassified
WSJ.com - Dubai Banks Remain Focus Of Terror Funding Investigation Page 1 of 3

THE WALL STREET Q M L I ft

January 17, 2004 7:47 p.m. EST

Dubai Banks Remain Focus Of Terror Funding Investigation


DOW JONES NEWSWIRES

DUBAI (AP)--Banks in this financial hub of the Arab world remain a key focus in the worldwide
investigation of terror funding despite moves to tighten reporting rules, freeze accounts and
control informal money transfers, U.S. and Arab officials told The Associated Press.

The reason: Dubai's history of shady transactions and the difficulty of tracking a matrix of legal
and illegal free trade.

About half the $250,000 spent on the Sept. 11 attacks was wired to al-Qaida terrorists in the U.S.
from Dubai banks, said officials of the U.S. Treasury and Central Bank of the United Arab
Emirates.

Al-Qaida money in Dubai banks also has been linked to the 1998 U.S. Embassy bombings in
Kenya and Tanzania blamed on Osama bin Laden.

In addition, before Saddam Hussein's ouster, this Persian Gulf emirate was a favorite transit point
for smugglers sneaking past U.S.-led naval patrols enforcing U.N. trade sanctions. And it was
through Dubai that Russian arms dealers supplied bin Laden's Taliban backers in Afghanistan
before the U.S.-led war ousted their Islamic government, officials say.

DOW JONES REPRINTS

( This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your
colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit: www.djreprints.com. • See a
sample reprint in PDF format • Order a reprint of this article now.

Sultan bin Nasser al-Suweidi, head of the Central Bank, told AP that financial officials are
working closely with the U.S. government to block terror funding. Central Bank officials have
trained with U.S. investigators and other international experts to help them identify money
launderers and suspicious transactions, he said.

"We don't want wrongdoers. We totally don't need them," said the U.S.-educated al-Suweidi, who
arrives at his office before 8 a.m. and is often seen working until 10 at night in the fortress-like
Central Bank headquarters in the Emirates capital of Abu Dhabi.

Banks in Dubai, which were not required to report incoming transfers of less than $55,000 before
the Sept. 11 attacks, must now tell the Central Bank about any transfer of more $11,000, al-
Suweidi said.

http://online.wsj.com/article_print/0,,BT_CO_20040117_000209,00.html 2/5/2004
WSJ.com - Dubai Banks Remain Focus Of Terror Funding Investigation Page 2 of 3

One of the Central Bank's greatest challenges, however, has been to regulate an informal system
of money transfer known as hawala in which a person takes in money at one end, then instructs an
agent in another country to hand a like amount to a beneficiary.

Widely used by migrant workers in Dubai and the rest of the Persian Gulf, hawala operators
transfer money without a paper trail, raising suspicions the system could be abused by terrorists
wanting to move money around.

In the Emirates, hawala operators have been ordered to register with the Central Bank and to
report transfers larger than $550, although al-Suweidi conceded that not all the dozens of
operators had come forward.

So far, there's no evidence the Sept. 11 plotters used hawala to transfer money, instead operating
through conventional banks.

For example, a year before the Sept. 11 attacks, the United Arab Emirates reported to U.S. ~7/
officials a transfer of $69,985 from a Dubai bank to an account in the U.S. held by Marwan Al- /
Shehhi and Mohamed Atta, al-Suweidi said. The names meant little then but they turned out be /
among the suicide hijackers. /

U.S. authorities took no action, al-Suweidi said, with little to differentiate that transfer from
thousands of others each day, even though it exceeded the $10,000 ceiling of U.S. reporting
requirements.

Al-Suweidi points to that overlooked transaction as an illustration of the difficulties faced by


banking officials in the United Arab Emirates.

"I don't want to apportion blame because we must all work together on fighting terrorism," al-
Suweidi said. He added, however, that if U.S. investigators were "unable to predict that the
transaction was wrong when it was reported, how can they depend on us?"

Cutting off terrorists' funds is a key component of U.S. President George W. Bush's antiterrorism
strategy. And Dubai remains a focus of U.S. efforts to stop the financing of terror along with other
banking capitals, said a U.S. Treasury official in Washington, speaking on condition of
anonymity.

"There are opportunities for people to use those facilities for nefarious ends - terrorist financing,
drug trafficking, money-laundering, or general fraud," the official told AP. "...We certainly do
think there still is activity under way in the region and certainly activity that affects Dubai that we
are interested in and we are looking at."

The Emirates Central Bank has frozen 18 suspected terrorist accounts with a total value of more
than $3 million, and provided information to international organizations in 14 terror financing
cases, al-Suweidi said.

The frozen accounts include those of Somali businessman Ahmed Nur Ali Jim'ale, whose al-
Barakaat group of companies is under investigation by U.S. authorities for suspected dealings
with al-Qaida.

Other frozen accounts belonged to Al-Shehhi, one of the Sept. 11 hijackers from the Emirates, and

http://online.wsj .com/article_print/0,,BT_CO_20040117_000209,00.html 2/5/2004


Doug Greenburg
From: dwise @ gordonsim mons.com
Sent: Wednesday, April 07, 2004 4:48 PM
To: Doug Greenburg
Subject: Global Relief Foundation

Dear Mr. Greenburg:

I am in receipt of your e-mail of yesterday's date pertaining to Global


Relief Foundation, Inc. ("GRF") and its experiences in the wake of the 9-11
tragedy. I am certainly grateful for an opportunity to present GRF's point
of view and to relate my own personal experiences in representing this
Muslim charity in the wake of 9-11. I believe that GRF has a unique story
to tell and can provide some insight that would be highly relevant to any
future efforts by our country to deal with terror or financing of terror
that should be considered.

More than two years ago, GRF was put out of business and the organization
destroyed in its entirety without any public evidence of wrongdoing other
than having raised money for and delivering aid to Muslim populations in
dire need around the world.

As we have discussed, I will appear at your offices, 501 - 7th Street,


S.W., Room 5125, Washington, D.C., next Tuesday at 3:30 p.m., and spend
approximately an hour and a half with your representatives. After you and
your staff hear what I have to say, perhaps the whole Commission will be
interested in GRF's experiences. Again, I appreciate your personal
willingness to hear the experiences of my client. This comes at a
propitious time as we will soon be filing the latest round of briefs in the
Federal Court in Chicago in our efforts to finally get a day in court.

If GRF were to be given an opportunity to be heard, the Commission would


hear of a wonderfully good-hearted organization that operated efficiently
and effectively to deliver benefits to needy populations in more than 20
countries around the world. Because this organization was operated here in
the US, it created uniquely good public relations for the US in Muslim
populations around the world. Conversely, the arbitrary destruction of GRF
in Decemer 2001, sent a message to tens of thousands of US Muslims that
their monetary help in troubled areas around the world was not wanted, not
appreciated and was actually illegal. This tragedy for our country has
been compounded by the fact that tens of thousands of hours of FBI,
Treasury, Justice and State Department personnel time has been invested in
sifting, unaided by GRF personnel, through thousands of pages of documents
which proved to be wholly wasted efforts because GRF was never involved in
aiding or financing terror in any form.
Sincerely,

Roger C. Simmons