The Investment Dealers Association is asking its members to help fight international terrorism.
The IDA is demanding that any firm that has had dealings with any of the individuals or organizations blacklisted by U.S. President Bush last week report such dealings to the IDA’s enforcement division.
Bush’s list includes Al Qaida, the Egyptian Islamic Jihad, Osama bin Laden and the Al Rashid Trust. The IDA is asking its members to confess any dealings with these organizations in the last three years.
Last week, President Bush signed an executive order freezing the assets of these groups, and freezing the U.S. assets of any institution that does not cooperate in the investigation of them.
The IDA is also asking its members to participate in the Securities and Exchange Commission’s investigation of possible profiteering on the September 11 attacks. It is asking that members look for unusual trading in airlines, cruise lines, insurers, and financial firms, in the days leading up to the disaster.
“We ask that you review same with a view of determining any unusual trading patterns, particularly any ‘negative’ trading during the period from August 27 through September 11.”
Among the stocks it’s looking at are: Boeing Co., AMR Corp., UAL Corp., Citigroup Inc., Bear, Stearns & Co., Lehman Brothers Holdings, Morgan Stanley Dean Witter & Co. and MetLife Inc. There are no Canadian firms on the list.