SORN SEC-17 Enforcement Files

SYSTEM NAME AND NUMBER:
SEC-17: Enforcement Files.
SECURITY CLASSIFICATION:
Unclassified.
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.
1. SYSTEM MANAGER(S):
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 10281-1022; 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, 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.
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) OF THE SYSTEM:
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.
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
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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.
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; selfregulatory 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.
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 (1) the SEC suspects or has
confirmed that there has been a breach of the system of records,· (2) the SEC has
determined that as a result of the suspected or confirmed breach there is a risk of harm to
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individuals, the SEC (including its information systems, programs, and operations), the
Federal Government, or national security; and (3) 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 breach or to 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
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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
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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 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
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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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23. To another Federal agency or Federal entity, when the SEC determines that
information from this system of records is reasonably necessary to assist the recipient
agency or entity in (1) responding to a suspected or confirmed breach or (2) preventing,
minimizing, or remedying the risk of harm to individuals, the recipient agency or entity
(including its information systems, programs, and operations), the Federal Government, or
national security, resulting from a suspected or confirmed breach.
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 STORAGE OF RECORDS:
Records are maintained in electronic and paper format. Electronic records are stored in
computerized databases, magnetic disc, tape and/or digital media. Paper records and records
on computer disc are stored in locked file rooms and/or file cabinets.
POLICIES AND PRACTICES FOR RETRIEVAL OF RECORDS
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.
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POLICIES AND PRACTICES FOR RETENTION AND DISPOSAL OF RECORDS:
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.
ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS:
Access to SEC facilities, data centers, and information or information systems is limited to
authorized personnel with official duties requiring access. SEC facilities are equipped with
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. Computerized records are safeguarded in a secured environment. Security
protocols meet the promulgating guidance as established by the National Institute of Standards
and Technology (NIST) Security Standards from Access Control to Data Encryption and
Security Assessment & Authorization (SA&A).
Records are maintained in a secure, password-protected electronic system that will utilize
commensurate safeguards that may include: firewalls, intrusion detection and prevention
systems, and role-based access controls. Additional safeguards will vary by program. All
records are protected from unauthorized access through appropriate administrative,
operational, and technical safeguards. These safeguards include: restricting access to
authorized personnel who have a “need to know”; using locks; and password protection
identification features. Contractors and other recipients providing services to the Commission
shall be required to maintain equivalent safeguards.
RECORD ACCESS PROCEDURES:
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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 20549-51002376.
CONTESTING RECORD PROCEDURES:
See Record Access Procedures above.
NOTIFICATION PROCEDURES:
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 20549-2376.
EXEMPTIONS PROMULGATED 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).
HISTORY:
This SORN was last published in full in the Federal Register at 40 FR 39253 (August 27,
1975). Subsequent notices of revision can be found at the following citations:
− 41 FR 5318 (February 5, 1976)
− 41 FR 11631 (March 19, 1976)
− 41 FR 41550 (September 22, 1976)
− 42 FR 36333 (July 14, 1977)
− 46 FR 63439 (December 31, 1981)
− 59 FR 27626 (May 27, 1994)
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− 62 FR 47884 (September 11, 1997)
− 67 FR 48497 (July 24, 2002)
− 76 FR 30213 (May 24, 2011)

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