The SEC wrote to FINRA CEO Richard "Rick" Ketchum informing him that Financial Crimes Enforcement Network (“FinCEN”) issued a final rule - effective 1/3/11 - amending Bank Secrecy Act (“BSA”) regulations re: the confidentiality of suspicious activity reports (“SARs”).  The amended regulations, among other things, require a broker-dealer to make SARs and all supporting documentation available to any SRO that examines the B/D for compliance with the requirements of the “SAR Rule”, upon the request of the SEC. SEC Implements FinCEN Request. The SEC, in accordance with the SAR Rule, requests all SEC-Registered, FINRA member firm that are subject to examination by FINRA for compliance with the requirements of the SAR Rule make SARs and supporting documentation as well as any information that would reveal the existence of a SAR or any decision to not file a SAR - collectively, “SAR Materials” - available to FINRA.  The SEC’s request applies to all FINRA member firms and applies to requests in connection with FINRA’s exams and investigations, as well as in connection with FINRA’s risk assessment effort within its exam program.  In turn, FINRA will take all appropriate steps to ensure that the SAR, or the existence of an SAR, is kept confidential throughout its enforcement and investigatory processes. OCIE's Open Letter to Broker-Dealers. The SEC advises Mr. Ketchum that FINRA is expected to implement the Commission's request, and informs Mr. Ketchum that it has sent an open letter to all SEC-registered, FINRA member broker-dealers.  [C-I Note:  For content of the letter, see previous RULE News posting.  Brokers are advised to contact OCIE with any concerns. The SEC reminds FINRA several times in the letter that confidentiality is of critical importance - and that FINRA and any/all of its personnel may not disclose an SAR, or any information that would reveal the existence of a SAR except as necessary to fulfill self-regulatory duties with the consent of the SEC. To access the letter, go to:   [SEC's OCIE/FINRA Letter, 1/26/12].