[Congressional Record (Bound Edition), Volume 150 (2004), Part 13]
[Senate]
[Page 17194]
[From the U.S. Government Publishing Office, www.gpo.gov]




      AUTHORIZING RECORD PRODUCTION BY PERMANENT SUBCOMMITTEE ON 
                             INVESTIGATIONS

  Mr. FRIST. I ask unanimous consent that the Senate proceed to the 
immediate consideration of S. Res. 415, which was submitted earlier 
today.
  The PRESIDING OFFICER. The clerk will report the resolution by title.
  The legislative clerk read as follows:

       A resolution (S. Res. 415) to authorize production of 
     records by the Permanent Subcommittee on Investigations of 
     the Committee on Governmental Affairs.

  There being no objection, the Senate proceeded to consider the 
resolution.
  Mr. FRIST. Mr. President, from 1999 to 2001, the Permanent 
Subcommittee on Investigations of the Committee on Governmental Affairs 
conducted an investigation into money laundering activities in the U.S. 
financial services sector, including private banking, correspondent 
banking, and the securities industry.
  Following its investigation, the subcommittee received requests from 
various law enforcement and regulatory agencies, legislative bodies, 
and court-appointed officers, both here and abroad, for assistance in 
connection with their pending investigations into the use of 
correspondent banks for money laundering. By Senate Resolution 77 of 
the 107th Congress, agreed to on April 26, 2001, the Senate authorized 
the chairman and ranking member of the subcommittee, acting jointly, to 
provide investigative records, obtained by the subcommittee in the 
course of its investigation, in response to these requests.
  Last year, the permanent subcommittee initiated a followup to its 
earlier investigation to evaluate the enforcement and effectiveness of 
key statutory anti-money laundering provisions, using Riggs Bank of the 
District of Columbia as a case history. The subcommittee held a hearing 
on the results of its investigation on July 15 of this year.
  The subcommittee is seeking authority, like that granted in the 107th 
Congress, to respond to requests from law enforcement and other 
government agencies for access to investigative records obtained by the 
Subcommittee in the course of its recent investigation. This resolution 
would accordingly authorize the chairman and ranking member of the 
subcommittee, acting jointly, to provide copies of its investigative 
records from the Riggs Bank investigation in response to such requests.
  Mr. President, I ask unanimous consent that the resolution be agreed 
to, the preamble be agreed to, the motion to reconsider be laid upon 
the table, and any statements relating to this matter be printed in the 
Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The resolution (S. Res. 415) was agreed to.
  The preamble was agreed to.
  The resolution, with its preamble, reads as follows:

                              S. Res. 415

       Whereas, during the 106th and 107th Congresses, the 
     Permanent Subcommittee on Investigations of the Committee on 
     Governmental Affairs conducted an investigation into money 
     laundering activities in the U.S. financial services sector, 
     including examinations of money laundering activities in 
     private banking, correspondent banking, and the securities 
     industry;
       Whereas, by agreement to Senate Resolution 77, 107th 
     Congress, the Senate authorized the Chairman and Ranking 
     Minority Member of the Subcommittee, acting jointly, to 
     provide to law enforcement officials, legislative bodies, 
     regulatory agencies, and other entities or individuals duly 
     authorized by federal, state, or foreign governments, records 
     of the Subcommittee's investigation into the use of 
     correspondent banking for the purpose of money laundering;
       Whereas, during the present Congress, the Subcommittee has 
     been conducting a followup to its earlier money laundering 
     investigation to evaluate the enforcement and effectiveness 
     of key statutory anti-money laundering provisions, using 
     Riggs Bank of the District of Columbia as a case history;
       Whereas, the Subcommittee is seeking authorization to 
     provide records of its followup investigation in response to 
     requests from law enforcement officials, legislative bodies, 
     regulatory agencies, and foreign agencies and officials;
       Whereas, by the privileges of the Senate of the United 
     States and Rule XI of the Standing Rules of the Senate, no 
     evidence under the control or in the possession of the Senate 
     can, by administrative or judicial process, be taken from 
     such control or possession but by permission of the Senate;
       Whereas, when it appears that evidence under the control or 
     in the possession of the Senate is needed for the promotion 
     of justice, the Senate will take such action as will promote 
     the ends of justice consistent with the privileges of the 
     Senate: Now, therefore, be it
       Resolved, That the Chairman and Ranking Minority Member of 
     the Permanent Subcommittee on Investigations of the Committee 
     on Governmental Affairs, acting jointly, are authorized to 
     provide to law enforcement officials, legislative bodies, 
     regulatory agencies, and other entities or individuals duly 
     authorized by federal, state, or foreign governments, records 
     of the Subcommittee's case study investigation into the 
     enforcement and effectiveness of statutory anti-money 
     laundering provisions.

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