***Attention all please read***(nice read) courtesy of Jabberjaw from Sterlings board
Something of interest I got from Ameritrade in the mail..!!
Remember I said the stock markets may come under the Federal microscope a few post back, because President Bush is pushing to privatize Social Security, and get people to invest in the stock markets.. Well it looks like the wheels are in motion to clean up these den of thieves..!!
Sorry for the caps, but that is the way I got it in the mail, and some of it I didn't post towards the end as I just wanted to make the point of what's to come.. Enjoy, and lets hope this Patriot Act will work in our favor.. GLTA, and Best Regards.. Jabber/Joseph
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--------ANTI-MONEY LAUNDERING REQUIREMENTS-------
----THE USA PATRIOT ACT--THE USA PATRIOT ACT IS DESIGNED TO DETECT, DETER, AND PUNISH TERRORIST IN THE UNITED STATES AND ABROAD. THE ACT IMPOSES ANTI-MONEY LAUNDERING REQUIREMENTS ON BROKERAGE FIRMS AND FINANCIAL INSTITUTIONS. ALL BROKERAGE FIRMS ARE REQUIRED TO HAVE COMPREHENSIVE ANTI-MONEY LAUNDERING PROGRAMS. TO HELP YOU UNDERSTAND THESE EFFORTS, WE WANT TO PROVIDE YOU WITH SOME INFORMATION ABOUT MONEY LAUNDERING AND OUR STEPS IMPLEMENTING THE USA PATRIOT ACT.
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----WHAT IS MONEY LAUNDERING?-- MONEY LAUNDERING IS THE PROCESS OF DISTINGUISHING ILLEGALLY OBTAINED MONEY SO THAT THE FUNDS APPEAR TO COME FROM LEGITIMATE SOURCES OR ACTIVITIES. MONEY LAUNDERING OCCURS IN CONNECTION WITH A WIDE VARIETY OF CRIMES, INCLUDING ILLEGAL ARMS SALES, DRUG TRAFFICKING, ROBBERY FRAUD, RACKETEERING, AND TERRORISM. -------------------- HOW BIG IS THE PROBLEM AND WHY IS IT IMPORTANT? -- THE USE OF THE U.S. FINANCIAL SYSTEM BY CRIMINALS TO FACILITATE TERRORISM OR OTHER CRIMES COULD WELL TAINT OUR FINANCIAL MARKETS. ACCORDING TO THE U.S. STATE DEPARTMENT, ONE RECENT ESTIMATE PUTS THE AMOUNT OF WORLDWIDE MONEY LAUNDERING ACTIVITY AT $1 TRILLION A YEAR.
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ANTI-MONEY LAUNDERING REQUIREMENTS CONTINUED -----------------WHAT ARE WE REQUIRED TO DO TO ELIMINATE MONEY LAUNDERING? -- UNDER RULES REQUIRED BY THE USA PATRIOT ACT, OUR ANTI-MONEY LAUNDERING PROGRAM MUST DESIGNATE A SPECIAL COMPLIANCE OFFICER, SET UP EMPLOYEE TRAINING, CONDUCT INDEPENDENT AUDITS, AND ESTABLISH AND MAINTAIN POLICIES AND PROCEDURES TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS AND ENSURE COMPLIANCE WITH THE NEW LAWS. TO HELP THE GOVERNMENT FIGHT THE FUNDING OF TERRORISM AND MONEY LAUNDERING ACTIVITIES, FEDERAL LAW REQUIRES ALL FINANCIAL INSTITUTIONS TO OBTAIN, VERIFY, AND RECORD INFORMATION THAT IDENTIFIES EACH PERSON WHO OPENS AN ACCOUNT. AS PART OF OUR REQUIRED PROGRAM, WE MAY ASK YOU TO PROVIDE VARIOUS IDENTIFICATION DOCUMENTS OR OTHER INFORMATION. UNTIL YOU PROVIDE THE INFORMATION OR DOCUMENTS WE NEED, WE MAY NOT BE ABLE TO OPEN AN ACCOUNT OR EFFECT ANY TRANSACTIONS FOR YOU. ---------------------------------WE THANK YOU FOR YOUR PATIENCE AND HOPE THAT YOU WILL SUPPORT US IN OUR EFFORTS TO DENY TERRORIST GROUPS ACCESS TO AMERICA'S FINANCIAL SYSTEM. --------------------(c) 2002. NATIONAL ASOCIATION OF SECURITIES DEALERS, INC. (NASD). ALL RIGHTS RESERVED.
PURSUANT TO SEC RULE 11AC1-6 A WRITTEN COPY OF THE AMERITRADE, INC. ORDER ROUTING DISCLOSURES IS AVAILABLE UPON REQUEST.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Hold)
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