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8/14/2019 Petition 172j - Certificacin superintendencia de valores
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Case 3:07-cv-02590-PJH Document 68-7 F led 04/13/2009 Page 10 of 33
ONRADUCC]
CERTIFICACION SUPE RINTENDENCIA
DE VALORES - TITUl loS CLIENTES
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(6 AVttfflS" ge11 of 33ase 3:07-cv-02590-PJH Document 6
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OFFICIAL TRANSLATION NUMBER 10J0-2003
OF A DOCUMENT WRITTEN IN SPANISH THAT READS A S
FOLLOWS -
REPUBLIC OF COLOMBIA
BANKING SUPERINTENDENT
BOGOTA, DC
LEGAL REPRESENTATIVE
STOCK EXCHANGE DEALER
AVEN1DA4 NNO 4n-30
SANTIAGO DE CAL1, VALLE
SUBJECT
083001
331 INFORMATIVE CORRESPONDENCE
16 COLLECTIVE COMPLETION
Dear Mr^^^^^H
In relation to the communications we received with the numbers
stated above, in which you ask for a certification to be sent to Ofac
and Sterling Financial Bank certifying that the securities currently in
escrow at the mentioned bank on the name of
Comisionista de Bolsa are not owned by such stock exchange dealer,
but are property of some of its clients with whom they have signed a
portfolio management agreement. In relation to that and also before
I
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U
[DmaminervaS'E mitmmmmmis&mw'. 'SBSWt.&z "-&?.; ?
All redactions made pursuant to exem ptions(b)(6), (b)(7)(A), (b)(7)(C), (b)(7)(F)
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Case 3:07-cv-02590-PJH Document 68-7 Filed 04/13/2009 Page 12 of 33
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41)
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answering your request, we believe i t is important to consider the
following issues.
First of all, in accordance with article 7, law 45 of 1990, the stock
exchange firms, members of the stock exchange have as exclusive
corporate purpose the development of brokerage agreement for
securit ies purchase and sale, being able to pursue the activit ie s
mentioned below, with previous authorization by the Banking
Superintendent, in compliance with the requirements established for
each particular case:
- To intervene in the securit ies underwriting to guarantee the total o
5 ~ part of the same, or to purchase such securities on its own account.
r | - Carry out transaction s on i ts own account with the purpose o
giving more stability to the prices of the market, diminish th
margins between the bid and asked prices of the same and in genera
to give liquidity to the market
- Assign loan with i ts own resources to finance securit ies purchase.
Carry on purchase-sale securit ies operations with the possibil i ty o
re-purchase .
- Administer security portfolios of clients with the purpose to carr
out capital return collection and reinvest i t according to the client '
ins t ruct ions .
- Administer portfolios of third parties.
- Consti tute and administer security funds with no legal enti ty.
- Furnish assistance in activit ies related to capital market
Other points similar to those mentioned above authorized by th
Banking Superintendent, to motivate the development of the capita
market.
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nin rinii/ia /on nn ifogR 13 of 33Case 3:07-cv-02590-PJH Document 6 rA -14162669Due to tne suDject in question, next we will mention in detail the
aspects related to securities administration.
In accordance with article 2.2.7.2 of resolution 400 year 1990, issued
by the Banking Superintendent, the stock exchange dealers are
authorized to:
a- Collect the returns or any other financial benefit from the
securit ies administered.
b - Collect the capital
c- Under write prefera bly the securities that correspond to a new
emission and
Id- Appraise the securities according to market prices
I Article 17, law 27 of 1990, assigns to the stock exchange dealer Firms
Ithe obligation to deposit the securities they receive in accordance to
Ithe sec uritie s adm inistration agreemen t in a centralized secu rities
[deposit. Such disposition is mandatory
n the other hand, resolution 1530 of 1993, issued by the Banking
Sup erinten dent ad opts the regulation "Plan Unico de Cue ntas", (PUCin Spanish) for firms subject to inspection by the Banking
Superintendent that has been modified by external bulletin
publications 018 of 1994, 018 of 1995, 9, 10, and 17 of 1998, 12 of
2001 and 5 of 200 2. Such resolution esta blishe s that the stock de aler
firms must keep the books for each one of the activities or business
that require administration of third parties resources , including the
commission agreement and securit ies administration, that implies the
obligation to produce financial statements for each one of such
activities , without prejudice of the partnership. This with the
purpose to define a rigorous equity and accounting separation of
-je saar-c&s-a. n d-Q-thep-assets-fesGU FJ-t-i esA-jittftfit=f>f-t h eHSfrttaztui-^f
I 2425
Tcdos lasdcrechos 32
iResurvaiiobI SEESr%A : :i ,-.:\^ ' . ' _ ' : ;c o n n m i n e r v a ! ? " i5 0 DlMjUrfl V MlrtllMOMM lln U\M 1 OP MAll redactions made on this page pursuant toexemptions (b)(6), (b)(7)(A), (b)(7)(C), (b)(7)(F)
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Case 3:07-cv-02590-PJH Document 68-7 Filed 04/13/2009 Page 14 of 33
Redaction made on this page pursuantto exemptions (b)(6), (b)(7)(A), (b)(7)(C),(b)(7)(F)
surveillance and property of the clients or investors temporary unde
their responsibility for the development of the so calle
"administration business"
As stock broker members of the stock exchange, the commissio
agreements for securities purchase and sale and the one for securitie
administration implies the activity of "business administration", an
as a result, the financial resources (money and securities) received b
a stock broker firm to develop such agreements shall be handle
independently of its own resources as the other activities that fa
within the concept of-business administration".
' = 2 Now, for the administration of the securities by the stock broke
firms, in the PUC , under class 7 structure called "trust memorandu
accounts" , the following was taken into account' "memorandu
accounts- receivable- administration expenses" , code 78140; an
"memorandum accounts-receivable- securities and clients foreig
currency for sale or retirement", code 78150, accounts in which
recognized the following.
- Code 78140, the nominal value of the securities received by th
stock broker firms for its administration with the sole purpose of i
custody, returns and dividend collection or capital collection
maturity term and
- Code 78150, the nominal value of received investment security
and foreign currency through the legally established firm that hav
not yet been placed and the securities and foreign currency receive
for sale or retirement, according to the case, even if those securitie
raTe-rrftaoiJa-b 1 e ox-e&tir * f c i
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Case 3:07-cv-02590-PJH Document 6 \-f fil ed 04/13/2009 ^^Riage 15 of 33C A - 1 4 1 6 2 6 7 1
Acco rding to numeral 1 of external bulletin 12 of 1994, issued by
the Banking Superintendent , the firms subject to supervision must
inform by modem to such Bank ing Superinten dent its financial
statem ent, that is to say its the balance sheet and general res ults of
such firms, and also the financial statement of each one of the
busin ess or activ ities that include permanent or provisional
adm inistratio n of resour ces or securities of its clients and investors .
In the same manner, numeral 2.3 of the mentioned external bulletin
12 esta blish es the obligation to redeem each month relations that
breakdown , among other accounts of PUC for supervised firms,
"clients fee agreements", and "stock brokers fee agreements"
In acco rdan ce with the monthly financial statem ents sent via modem
corresponding to the periods October 2002 to march2003, it appears
I that sto ck broker firm ^ ^ ^ U | ^ ^ | C om isionista de Bolsa
informed the balance of the accou nts above mentioned for the
months indicated below:
PAT E CLOSING MNTH CODE 78140 CODE 78140
October 31 2002
November 30 2002
December 31 2002
January 31 2003
SFebruary 28 2003
March 31 2003
1
11
1
1
1
I
-1
5
(i
7
S
')
111
u
$120,225,210,785
$28,494,177,692
$17,474,219,828
$19,198 875. 515
SI.667.984.384
$51,598,530
$12,865,704
0
0
0
0
0
Todos los
Idorcchos M
RcbcrvadoG
formam i n e r v a S ' i^K-nr^HK> DlH flid jy actiulluda legiin U UiyD M I ' B f i S
All redactions made on this page pursuant toexemptions (b)(6), (b)(7)(A), (b)(7)(C), (b)(7)(F)
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Case 3:07-cv-02590-PJH Document 68-7 Filed 04/13/2009 Page 16 of 33
All redactions made on this page pursuant toexemptions (b)(6), (b)(7)(A), (b)(7)(C), (b)(7)(F)
Furthermore , dur ing an inspection visit b~y tfie Bankin
Super intendent in September 8- 12 year 2003 to the firm
Comisionis ta de Bolsa it was evident that such firm carries it
Financial books in compliance with the regula t ions in force that wer
mentioned above
During the inspection it was observed that on the "Secur i t ie
administration official book" of the stock broker firm
appear individually registered the securit ies that each clier
gave for its administration and tha t are in custody at a bank abroac
These are the secur i t ies
AT&T CANADA1CLTENT CUSTODY D A T
i = RECEIVED
CUSTODY DAT
CUSTODY -DAT
AMOUNT
ID
| 1 - AMOUNT ^ H
CLIENT Inst De Religiosas de San Jose ID
DATE RECEIVED | ^ ^ ^ | AMOUNTJ
TOTAL
BTMM
CLIENT | | ^ | ^ ^ ^ | ^ ^ t r e p o ID
RECEIVED 18-11 -2002- AMOUNT
CLIENT ^ m | ^ ^ m ^ ^ ID
RECEIVED 18-11-2002 AMOUNT
- QTA-L
CUSTODY DAT:;
CUSTODY
=7
50
fill
111
61
M
CUSTODY 12828-1 DAI
CUSTODY )AT1
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Case 3:07-cv-02590-PJH Pi-r-im-nffl 7 Filnfl "1'1P"" P py i T ^f i i
CA-14162672
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YANKEE BONDS
CLIENT: { ^ B A ID: ^ H H i CUSTODY: j
RECEIVED- 17-09-2002 A M O U N T ^ i H
CLIENT: ^ 1 A ID: H ^ - CUSTODY: j
RECEIVED: 20-07-2002. AMOUNT: B
CLIENT: H ^ H i ^ H B . ID: flB- CUSTODY: |
RECEIVED : 26-06.2002. AMOUNT:
CLIENT: H H ^ ^ H i ^ H ID: H B CUSTODY. |
RECEIVED. 26-06.2002. AMOUNT:^ B
I CLIENT: - H H H ^ H I ^ H ID: ^ ^ ^ | . CUSTODY:I DATE RECEIVED: 14-06-2001 AMOUNT: ~~
| CLIENT: H ^ ^ g j ^ ^ m ^ . ID:
[RECEIVED: 18-04-2001. AM OU NT :>
I CLIENT: | ^ m . ID:
RECEIVED: 04-6-2002. AMOUNT: |
C L I E N T ^ ^ ^ m ^ m ^ g S. ID: I
RECEIVED: 14-06-2001. AM OU NT |
C L 1 E > 1 T :f l H H H H H ^ HI D 'RECEIVED: 11-05-2001. AMOUNT:|
TOTAL: I
DATE
DATE
DATE
DATE
DATEUSTODY:
CUSTODY: DATE
CUSTODY: DATE.o
I CUSTODY: DATE
On the day of the visit there was a notification sent by AT&T with
date march 26 2003 informing its clients bond holders and other
creditors affected , the amount of money and shares class A (ATTC)
and B (ATTCZ), that the company will distr ibute as of April l" , of
the present year to the bond holders and other affected creditors as
part nf fhfi rpsrti ift nppraf inn rf thf nnnipany
I
EGISTDUCSlav
1 ckrccliosiRese'viidoi
forma rtli flBfVaS' fTOCTTIMfffyWT
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Case 3:07-nv-n?5fln-P.IH Document 68-7 Filfiri 04/13/?003 Pane 18 of 33All redactions made on this page pursuant to exemptions(b)(6), (b)(7)(A), (b)(7)(C), (b)(7)(F)
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XI
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it
41)
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4.1
In agreement with the records of the stock broker company
^ ^ ^ ^ ^ ^ ^ ^ ^ H and oth er docum ents stu died, next we will present
the detail of the amount of bonds AT&T owned by each client and
the amount in money and shares class A and B that corresponds to
each one in the rescue operation process
AT&T CANADA
CLIENT-
It was possible to verify that the securities mentioned aboveare
registered in the general balance and the subsidiary ledgers on the
name of the beneficiaries in memorandum accounts as securities
under administration, code 78140, securitieson clients accounts.
I f is here, r p i t p r a t p r l t h a t in rni\e 7K14D thp n n m i n a l v a l n f t n f the-.
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ge 19 of 33ase 3:07-cv-02590-PJH Document i iiea U4/'i JIZUUU i-CA -14162673
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I
secu rities receiv ed app ear s received by the stock broker firms to be
adm inistere d with the sole purpose of its custody, yield and dividend
collection or capital collection at maturity
During the visit to the stock broker firm premises, the Banking
Superintendent was able to verify that the securities that are under
custody at a foreign b ank called Sterlin g Financia l, do not belong to
th e s to ck b ro ke r f i m i ^ ^ ^ ^ J ^ ^ ^ ^ J C o m i s i o n i s t a de B ols a , but to
its clients the same clien ts that appea r stated on the lists above and
I th at w e re r ec ei ve d b v ^ | B H ^ ^ ^ ^ ^ | in c om p lia nc e w ith pr ev io us
[securit ies administration agreements with such clients
iTh is official d ocum ent is not a certifica tion as its con tents do not
correspond to any of the certification capacities assigned to the
|Ba nki ng Supe rintenden t as stated on the corresponding regulations
in force.
Sincerely
Signed:
Head of Securit ies Stock Exchange Division ,
Securit ies Agents and other supervised bodies
oIII
= * * * * * * * * * * * * * * * * *
f ************** ***********************ILEGIS
TOIIDS IOSderechos
iHeserv.Tdoij
* * * * * $ * * * * * * * * * * * * *K * +
IfonrarainervaQ'i tMiMimzs&ur HMMHtKODlSn"diViti'ili"il,gun!LnCpIB
All redactions made on this page pursuant toexemptions (b)(6), (b)(7)(A), (b)(7)(C), (b)(7)(F)
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Case 3:07-cv-02590-PJH Document 68-7 Filed 04/13/2009 Page 20 of 33
All redactions made on this pagepursuant to exem ptions (b)(6), (b)(7)(A),(b)(7)(C), (b)(7)(F)
THIS IS AN OFFICIAL T R A N S L AT T U J T H ^ T S T T H F U L AND)
COMPLETE OF WHICH REMAINS A COPY FOR IT:
CONFRONTATION IF NECESSARY
DATE OF THE TRANSLATION: OCTOBER 2003
OFFICIAL TRANSLATOR:
MEMBER OF THE COLOMBIAN SCHOOL OF TRANSLATORS
LICENSE ^ ^ B l S S U E D BY THE COLOMBIAN MINISTRY O
JUSTICE. REGISTERED BEFORE THE COLOMBIA?
MINISTRY OF FOREIGN AFFA IRS, THE EMBASSY OF TH
UNITED STATES IN COLOMBIA, THE EMBASSY O
CANADA, THE CONSULATES OF SWITZERLAND, BELGIUM
FRANCE, GREAT BRITAIN IN CALL
BEFORE THE GOVERNOR OF VALLE DEL CAUCA
REGISTRATION: PAGE 159, BOOK C-200-3 , DATE MRCHT
1990
BEFORE THE ELEVENTH NOTARY PUBLIC IN CAL
REGISTRATION: 1794, DATE: MARCH 28, 1990
SIGNATURE AND SEAL OF THE OFFICIAL TRANSLATOR:
23
3 4
3 5
3 6
3 7
3 K
.'9
4(1
4 1
4 2
4 3
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4 5
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4 7
4 K
ESTA ES UNA TRADUCCION OFICIAL FIEL Y COMPLETE
DE LA CUAL QUEDA COPIA PARA SU CONFRONTACION S
FUERA NECESARIO
FECHA DE TRADUCCION: OCTUBRE DE 2003
TRADUCTORA OFICIAL:
MIEMBRO DEL COLEGIO COLOMBIANO DE TRADUCTORES
\. DE CLICENCIJUSTICIA
EXPEDIDA POR EL MINISTERIO DEOLOMBIA,