The AWC alleges that the significant potential risks posed by using mortgage proceeds to make securities investments and the high concentration level in the VUL investment, rendered the transaction unsuitable.

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My primary concern is that there has been insufficient disclosure of the potential risks to investors and of the intended use of the proceeds.

CENTERFORSECURITYPOLICY: Center For Security Policy

The net cash proceeds are prior to any adjustment for potential tax liabilities which are likely to arise from the sale of spectrum assets even after utilizing the existing net operating losses.

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The problem has become so vexing that the Treasury Department issued a rare advisory last year that warned American banks about "a dramatic increase in the smuggling of bulk cash proceeds from the sale of narcotics" and the "potential misuse of relationships with U.S. financial institutions by certain Mexican financial institutions, including Mexican casas de cambio, " or currency exchange houses (see diagram).

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But although the potential to transform the economy is obvious, there is no talk yet of using the proceeds to buy full independence from Denmark.

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This means investors need to maintain reserves against potential claims and cannot distribute all of the proceeds.

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All potential investors should be made aware of these possibilities and the ultimate use of the proceeds before you approve this transaction.

CENTERFORSECURITYPOLICY: Center For Security Policy