CIA SUPPORT OF SEC OVERSEAS INVESTIGATIONS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80B01495R000400050033-0
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 2
• Document Creation Date: December 19, 2016
• Document Release Date: November 16, 2005
• Sequence Number: 33
• Publication Date: February 28, 1973
• Content Type: MEMO

Approved Far-Release 2006/02/01 : CIA-RDP80B01-. 9 5R000400050033-0
DRAFT
28 February 1973
MEMORANDUM OF CONVERSATION
SUBJECT: CIA Support of SEC Overseas Investigations
PARTICIPANTS: Securities Exchange Commission
Theodore C. Barreauc-Deputy Director, Office
of Policy Planning
Wallace Timmery-Director, Enforcement Division
Central Intelligence Agency
Paul Walsh-Assistant Deputy Director,
Tnd-ol I,
conomic Research
Mr. Barreaux noted that his visit was part of an
overall SEC effort to develop liaison with agencies involved
in international affairs.
The SEC, under White House direction, was participating
in a multi-agency drive against organized crime. As part
of this drive the Commission was seeking to acquire in-
formation on the overseas security dealings of "organized
mobsters". State has provided the Commission with useful
overt information but Mr. Barreaux indicated there was a
tremendous need for detailed covert collection, particularly
on security transactions and company ownership. This
information would be required from collectors in the
Caribbean, Latin America, and Europe, particularly
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Mr. Walsh indicated that the Agency desired to help
but would be severely constrained. Material collected
either through the Domestic Contact Service or the
Clandestine Service, in general, would carry controls which
would severely restrict its usefulness in law enforcement.
Moreover, the Agency would have to assure that its sources
and accesses were protected and it could not, by law, have a
domestic law enforcement role.
Mr. Barreaux said he appreciated Mr. Walsh's position.
He felt the SEC would still find the information desirable
even with the controls. He also indicated that the CIA
should not be concerned about jeopardizing its access to
legitimate business, because businessmen also have an
interest in removing organized criminal elements from
international security transactions. He also noted that
the Commission would make available to the Agency information
that it uncovered which might be of Agency use.
Mr. Walsh indicated that he would have to discuss
the matter with the Director of Central Intelligence and
the Clandestine Service. He suspects that this request
would require a special collection effort.
agreed noting that this information was not presently
being acquired. Mr. Walsh made no other commitments.
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