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respondent. Another request letter was sent to Dean Witter by
certified mail on September 27, 1999. When Dean Witter again
failed to respond, respondent on October 26, 1999, sent a third
request letter and suggested that a subpeona duces tecum might be
issued.
On November 15, 1999, a Dean Witter representative called
respondent about a contact at Nations Bank Investment (Nations
Bank), who had the relevant information. Respondent immediately
left a message with Nations Bank. Two days later, respondent
faxed Nations Bank the letters previously sent to Dean Witter.
Since respondent did not receive a reply, respondent again called
Nations Bank, and a representative told respondent they were
working to obtain the information.
Thereafter, a representative of Banc of America called on
behalf of Nations Bank. Petitioner’s account was with Banc of
America. Banc of America at that time did not deal directly in
securities, and it employed Dean Witter as its agent.
On December 6, 1999, respondent finally received a letter
and documentation from Banc of America in response to the
request. The documentation showed that on January 11, 1996,
petitioner received reportable gross proceeds of $27,636.71 from
the sale of a U.S. Treasury note. The documentation also
established that petitioner's basis in the note was $25,000, a
fact not known previously to respondent.
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