SEC standardized request letter for confirmation of assets

May 18, 2009 -

The SEC's Office of Compliance Inspections and Examinations has now posted a copy of a standardized request letter that they are sending to clients of investment firms for confirmation of assets. In their cover memorandum, the SEC notes that they are able to request independent confirmations of account balances directly with various persons, including clients or shareholders.

The SEC notes that a response is voluntary, that that this is not an indication of an irregularity at a particular firm. The memorandum notes that the SEC had been sending out requests for these confirmations with different types of letters and that as of May 13th, the letter posted to the website will be the only form utilized.

SEC Form 1662 requests the total balance of the shareholder's account, type of account and account number, the last deposit date and the last withdrawal date. The SEC requests a response within 10 days of receipt of the letter.

The letter and SEC cover note can be accessed at the following URL:
www.sec.gov/about/offices/ocie/routine_account_information_confirmation.pdf