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Anti-Money Laundering Customer Notice
The USA Patriot Act
The USA Patriot Act signed by President
Bush in October, 2001 imposes new anti-money
laundering requirements on broker dealer
firms and other financial institutions.
By April 24, 2002, all broker dealers were
required to have new comprehensive anti-money
laundering programs in place.
What Is Money Laundering?
Money laundering is the process of creating
the appearance that large amounts of money
obtained from serious crimes such as drug
trafficking, originated from a legitimate
source. Not only does it occur in drug related
incidents but in connection with a wide
variety of crimes including fraud, illegal
arms sales, racketeering, robbery 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 and/or
other crimes could well taint our financial
markets. According to the U.S. State Department,
one recent estimate put the amount of worldwide
money laundering activity at $1 trillion
per year.
What Are We Required To Do To Combat
Money Laundering?
Under new rules required by the USA Patriot
Act, our Anti-Money Laundering program must
designate a special compliance officer,
conduct employee training, conduct independent
audits, and establish policies and procedures
designed to detect and report suspicious
transactions and ensure compliance with
the new laws.
As part of these requirements, we will
be asking you to provide various identification
documents or other information. Until you
provide the documents or information we
need, we will not be able to effect any
securities transactions for you. We thank
you for your patience and hope you will
support our efforts to deny terrorist groups
access to America's financial system.
Public Disclosure Hotline:
For assistance with checking the background
of a securities broker call the Public Hotline
at (800) 289-9999.
FINRA Regulation Web Site Address:
The investor brochure including information
about the Public Disclosure Program can
be found on this website http://www.FINRA.org.
Opt Out
You can opt out of your JCP Publication
Subscription by email:
Brian M. Karpiel
(949) 769-3323 Ext. 304
bkarpiel@janescapital.com
Questions and Suggestions
If you have questions or suggestions, please
complete a feedback form or you can contact
us at:
Brian M. Karpiel
(949) 769-3323 Ext. 304
bkarpiel@janescapital.com
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