In an open letter to the CEOs of all SEC-registered, FINRA Member broker-dealers, dated 1/26/12, Carlo di Florio, who heads the SEC's Office of Compliance Inspections and Examinations, announced that the Financial Crimes Enforcement Network (“FinCEN”) issued a final rule - which became effective one year ago - 1/3/11, to be exact. The rule amended Bank Secrecy Act (“BSA”) regulations regarding the confidentiality of suspicious activity reports (“SARs”).  As amended, the regulations, among other things, now require a broker-dealer to make SARs and supporting documentation available to any SRO that examines the broker-dealer for compliance with the requirements of the “SAR Rule”, when that SRO is acting upon the request of the SEC. SEC Letter to FINRA CEO Ketchum. At the same time OCIE disseminated its letter to broker-dealer CEOs, it sent a letter to FINRA CEO Rick Ketchum, requesting that all FINRA member broker-dealers 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.  This may be either in connection with a FINRA exam or investigation, or with a FINRA risk assessment effort within its exam program. The letter to FINRA further reminds Ketchum of FINRA's responsibilities under the BSA and the SAR Rule to preserve confidentiality of SAR Materials.  The letter also emphasizes that the SEC expects FINRA to implement its request to broker-dealers. Assistance and Additional Information for Broker-Dealers. Firms may contact SEC staff if and when they have any concerns regarding FINRA’s implementation of the SEC’s request.  They also can obtain additional information by accessing FinCEN’s Final Rule and FinCEN’s Advisory FIN-2010-A014, issued 11/23/10. Click to access:   [OCIE Letter to Broker Dealers, 1/26/12].