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SEC 2405 (08/17) 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Supplemental Information for Individuals and Entities Regulated by the Commission 

Who are Requested to Supply Information Voluntarily to the 

Commission’s Office of Investor Education and Advocacy 

A. Authority for Solicitation of the Information 

Various provisions authorize the Securities and Exchange Commission (the “Commission” or the 

“SEC”) to request information, including: Sections 19 and 20 of the Securities Act of 1933, Section 

21 of the Securities Exchange Act of 1934, Section 321 of the Trust Indenture Act of 1939, Section 

42 of the Investment Company Act of 1940, Section 209 of the Investment Advisers Act of 1940, 

and 17 CFR 202.5. Pursuant to 17 CFR 200.24a(b), the Commission’s Office of Investor 

Education and Advocacy is responsible for assuring that regulated individuals and entities process 

and respond to complaints the Commission receives from individual investors. 

B. Effect of Not Supplying Information

Disclosure of the requested information to the Commission is voluntary on your part and there are 

no sanctions for failure to provide all or any part of the requested information. If you do not 

provide the requested information, however, the Commission’s examination staff or the 

Commission’s enforcement staff may take further steps to require you to produce certain records or 

documents. 

C. Principal Uses of Information 

The Commission’s principal purpose in soliciting the information is the resolution of complaints 

the Commission receives from individual investors. The Commission also may use the information 

for the following purposes: 

1. Assist with Examinations, Enforcement, and Other Inquiries: To gather facts in order to 

determine whether an entity or person is complying with applicable federal securities laws 

and rules, and to determine whether any entity or person has violated, is violating, or is 

about to violate any provision of the federal securities laws or rules for which the 

Commission has enforcement authority, such as rules of securities exchanges and the rules 

of the Municipal Securities Rulemaking Board. Facts developed may, however, constitute 

violations of other laws or rules. Information provided may be used in Commission and 

other agency enforcement proceedings; and 

2. Risk Assessment: To monitor risk and gather information about areas of interest or concern 

to the Commission. 

Unless the Commission or its staff explicitly agrees to the contrary in writing, you should not 

assume that the Commission or its staff acquiesces in, accedes to, or concurs or agrees with, any 

position, condition, request, reservation of right, understanding, or any other statement that 

purports, or may be deemed, to be or to reflect a limitation upon the Commission’s receipt, use, 

disposition, transfer, or retention, in accordance with applicable law, of information provided.
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D. Routine Uses of Information 

The Commission often makes its files available to other governmental agencies, particularly United 

States Attorneys and state prosecutors. There is a likelihood that information supplied by you will 

be made available to such agencies where appropriate. Whether or not the Commission makes its 

files available to other governmental agencies is, in general, a confidential matter between the 

Commission and such other governmental agencies. 

Set forth below is a list of the routine uses which may be made of the information furnished. 

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. 
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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 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 
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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. 

E. False Statements and Documents

Section 1001 of Title 18 of the United States Code provides that fines and terms of imprisonment 

may be imposed upon: 

[W]hoever, in any matter within the jurisdiction of the executive, legislative, or judicial 

branch of the Government of the United States, knowingly and willfully— 

(1) falsifies, conceals, or covers up by any trick, scheme, or device a material fact; 

(2) makes any materially false, fictitious, or fraudulent statement or representation; 

or 

(3) makes or uses any false writing or document knowing the same to contain any 

materially false, fictitious, or fraudulent statement or entry. 

Section 1519 of Title 18 of the United States Code provides that fines and terms of imprisonment 

may be imposed upon: 

Whoever knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes a 

false entry in any record, document, or tangible object with the intent to impede, obstruct, 

or influence the investigation or proper administration of any matter within the jurisdiction 

of any department or agency of the United States . . ., or in relation to or contemplation of 

any such matter. 

F. Freedom of Information Act

The Freedom of Information Act, 5 U.S.C. 552 (the “FOIA”), generally provides for disclosure of 

information to the public. Rule 83 of the Commission’s Rules on Information and Requests, 17 CFR 
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200.83, provides a procedure by which a person can make a written request that information 

submitted to the Commission not be disclosed under the FOIA. That rule states that no determination 

as to the validity of such a request will be made until a request for disclosure of the information under 

the FOIA is received. Accordingly, no response to a request that information not be disclosed under 

the FOIA is necessary or will be given until a request for disclosure under the FOIA is received. If 

you desire an acknowledgement of receipt of your written request that information not be disclosed 

under the FOIA, please provide a duplicate request, together with a stamped, self-addressed 

envelope. 

* * * * * 

Small Business Owners: The SEC always welcomes comments on how it can better assist small 

businesses. If you would like more information, or have questions or comments about federal 

securities regulations as they affect small businesses, please contact the Office of Small Business 

Policy, in the SEC’s Division of Corporation Finance, at 202-551-3460. If you would prefer to 

comment to someone outside of the SEC, you can contact the Office of the National Ombudsman 

at http://www.sba.gov/ombudsman or toll free at 888-REG-FAIR.