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Special Alerts

SA-19-2005
February 22, 2005


TO: CHIEF EXECUTIVE OFFICER (also may be of interest to Security Officer)
SUBJECT: Entities That May Be Conducting Banking Operations in Canada or the United States Without Authorization
Summary: Entities may be illegally operating as financial institutions.

The Office of the Superintendent of Financial Institutions (OSFI) of Canada has published the attached "Warning Notice" (Issue No. 57), which contains the names of entities recently brought to OSFI's attention. These entities are Harvest Capital, Etobicoke, Ontario; a related entity, Harvest Capital, Houston, Texas (www.harvestcapital.ca); and Swiss Securities Group Inc. (no address).

These entities, or persons representing them, are reportedly operating in Canada. They may be violating provisions of the Bank Act (Canada) or other Canadian financial institution regulations. They may also be conducting unauthorized banking transactions in the United States. Any proposed transactions involving these entities should be viewed with extreme caution.

Each "Warning Notice," beginning with Issue No. 1, through OSFI's latest "Warning Notice" may be found at: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=166.

Any information about these entities may be forwarded to the FDIC's Special Activities Section, 550 17th Street, N.W., Room F-4040, Washington, D.C. 20429, or forwarded electronically to alert@fdic.gov.

For your reference, FDIC Special Alerts may be accessed from the FDIC's Web site at www.fdic.gov/news/news/SpecialAlert/2005/index.html. To learn how to automatically receive FDIC Special Alerts, Financial Institution Letters and other announcements through e-mail, please visit www.fdic.gov/about/subscriptions/index.html.

Michael J. Zamorski
Director
Division of Supervision and Consumer Protection

Attachment (Can be found at
http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_57_e.pdf)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC Special Alerts may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).




Last Updated 02/22/2005 communications@fdic.gov