Mirage Investments Corp. (MIC), planned a tender offer for the shares of Gulf Estates International Corp. (GSIC). Archer, an officer of MIC, placed purchase orders for GSIC stock through the New York office of the Bahamian Bank (BB) prior to the announcement of the tender offer, making a $300,000 profit when the tender offer was made public. The Bahamas is a secrecy jurisdiction. The bank informed the U.S. Securities and Exchange Commission

(SEC) that under law, it could not disclose the name of the person for whom it purchased the stock. What, if anything, may the SEC do to discover whether the federal securities laws have been violated?