SEC Comment Letter for RB GLOBAL INC. (RBA) (CIK 0001046102) (RBA) — Feb 11, 2009
RB GLOBAL INC. (RBA) (CIK 0001046102)
Date: Feb. 11, 2009 · CIK: 0001046102 · Accession: 0000000000-09-007245
AI Filing Summary & Sentiment
File numbers found in text: 001-13425
Referenced dates: January 23, 2009, November 26, 2008
Letter
Mail Stop 4561 February 11, 2009 Robert S. Armstrong Chief Financial Officer Ritchie Bros. Auctioneers Incorporated 6500 River Road Richmond, British Co lumbia V6X 4G5 Canada Re: Ritchie Bros. Auctioneers Incorporated Form 40-F for Fiscal Year Ended December 31, 2007 Filed February 21, 2008 File No. 001-13425
Dear Mr. Armstrong:
We have reviewed your response letter dated January 23, 2009 in connection with the above-referenced filing and have the followi ng comments. If indicated, we think you should revise your document in response to these comments. If you disagree, we will consider your explanation as to why our comment is inapplicable or a revision is unnecessary. Please be as deta iled as necessary in your expl anation. In some of our comments, we may ask you to provide us w ith supplemental information so we may better understand your disclosure. After re viewing this information, we may raise additional comments.
Form 40-F for Fiscal Year Ended December 31, 2007
General 1. You state in your response to prior comment number 1 that your Dubai-based subsidiary, Ritchie Bros. Auctioneers (ME) Limited, had hired a U.S. citizen in a “local operations role.” Pl ease discuss for us whether the involvement of a U.S. citizen at your Dubai-based subsidiary constitutes a vi olation of U.S. sanctions. 2. You also state in your response that citizen s or residents of Iran, Syria, or Sudan have purchased equipment at your non-U.S. auctions. Please describe to us the types of equipment you or any of your di rect or indirect subsidiaries have provided, directly or indire ctly, to Iran, Sudan, or Sy ria. Certain types of equipment are included in the Depart ment of Commerce’ s Commerce Control List. Tell us whether, to the best of your knowledge, understanding, and belief, any of the equipment, components, or technology you have provided, directly or
Robert S. Armstrong Ritchie Bros. Auctioneers Incorporated February 11, 2009 Page 2 indirectly, into Iran, Sudan, or Syria ha ve military uses, and describe possible military uses of which you are aware. Pleas e also advise us whether, to the best of your knowledge, understanding, and belief, such equipment, components, or technology have been put to military use by Iran, Sudan, or Syria, and discuss any such use of which you are aware. Fina lly, if you have provided into Iran any equipment, components, or technology that can be put to military use, please discuss for us briefly the applicability of the Iran Fr eedom Support Act of 2006 to your contacts with Iran. 3. You state in your response to prior co mment number 2 that you have modified your compliance controls “to discont inue conducting any further business transactions involving reside nts of Iran, Syria and Suda n (along with other U.S. embargoed countries).” This statement ra ises the possibility that you have had business transactions with Cuba, anot her country identified by the State Department as a state sponsor of terroris m and subject to U.S. economic sanctions and export control. Please advise us whether you have had business transactions, direct or indirect, involving citizens or residents of, entities located in, or the government of, Cuba. If so, provide us th e same information regarding Cuba that we requested regarding Iran, Sudan, and Sy ria in the first two comments of our letter dated November 26, 2008 and the two preceding comments of this letter.
* * * * * * *
Please respond to these comments within 10 business days or tell us when you will provide us with a response. Please submit all correspondence and supplemental materials on EDGAR as required by Rule 101 of Regulation S-T. If you amend your filing(s), you may wish to provide us with marked copies of any amendment to expedite our review. Please furnish a cover letter that keys your response to our comments and provides any requested information. Detailed co ver letters greatly faci litate our review. Please understand that we may have addi tional comments after reviewing any amendment and your response to our comments. You may contact Matthew Cr ispino, Staff Attorney, at (202) 551-3456 or Barbara C. Jacobs, Assistant Director at (202) 551- 3730 if you have any questions regarding the above comments. If you need further assi stance, you may contact me at (202) 551-3451. S i n c e r e l y , Mark Kronforst Accounting Branch Chief
Show Raw Text
Mail Stop 4561 February 11, 2009 Robert S. Armstrong Chief Financial Officer Ritchie Bros. Auctioneers Incorporated 6500 River Road Richmond, British Co lumbia V6X 4G5
Canada
Re: Ritchie Bros. Auctioneers Incorporated
Form 40-F for Fiscal Year Ended December 31, 2007
Filed February 21, 2008
File No. 001-13425
Dear Mr. Armstrong:
We have reviewed your response letter dated January 23, 2009 in connection with
the above-referenced filing and have the followi ng comments. If indicated, we think you
should revise your document in response to these comments. If you disagree, we will consider your explanation as to why our comment is inapplicable or a revision is
unnecessary. Please be as deta iled as necessary in your expl anation. In some of our
comments, we may ask you to provide us w ith supplemental information so we may
better understand your disclosure. After re viewing this information, we may raise
additional comments.
Form 40-F for Fiscal Year Ended December 31, 2007
General
1. You state in your response to prior comment number 1 that your Dubai-based
subsidiary, Ritchie Bros. Auctioneers (ME) Limited, had hired a U.S. citizen in a
“local operations role.” Pl ease discuss for us whether the involvement of a U.S.
citizen at your Dubai-based subsidiary constitutes a vi olation of U.S. sanctions.
2. You also state in your response that citizen s or residents of Iran, Syria, or Sudan
have purchased equipment at your non-U.S. auctions. Please describe to us the
types of equipment you or any of your di rect or indirect subsidiaries have
provided, directly or indire ctly, to Iran, Sudan, or Sy ria. Certain types of
equipment are included in the Depart ment of Commerce’ s Commerce Control
List. Tell us whether, to the best of your knowledge, understanding, and belief,
any of the equipment, components, or technology you have provided, directly or
Robert S. Armstrong
Ritchie Bros. Auctioneers Incorporated February 11, 2009 Page 2
indirectly, into Iran, Sudan, or Syria ha ve military uses, and describe possible
military uses of which you are aware. Pleas e also advise us whether, to the best
of your knowledge, understanding, and belief, such equipment, components, or technology have been put to military use by Iran, Sudan, or Syria, and discuss any such use of which you are aware. Fina lly, if you have provided into Iran any
equipment, components, or technology that can be put to military use, please discuss for us briefly the applicability of the Iran Fr eedom Support Act of 2006 to
your contacts with Iran.
3. You state in your response to prior co mment number 2 that you have modified
your compliance controls “to discont inue conducting any further business
transactions involving reside nts of Iran, Syria and Suda n (along with other U.S.
embargoed countries).” This statement ra ises the possibility that you have had
business transactions with Cuba, anot her country identified by the State
Department as a state sponsor of terroris m and subject to U.S. economic sanctions
and export control. Please advise us whether you have had business transactions,
direct or indirect, involving citizens or residents of, entities located in, or the
government of, Cuba. If so, provide us th e same information regarding Cuba that
we requested regarding Iran, Sudan, and Sy ria in the first two comments of our
letter dated November 26, 2008 and the two preceding comments of this letter.
* * * * * * *
Please respond to these comments within 10 business days or tell us when you
will provide us with a response. Please submit all correspondence and supplemental
materials on EDGAR as required by Rule 101 of Regulation S-T. If you amend your
filing(s), you may wish to provide us with marked copies of any amendment to expedite our review. Please furnish a cover letter that keys your response to our comments and provides any requested information. Detailed co ver letters greatly faci litate our review.
Please understand that we may have addi tional comments after reviewing any
amendment and your response to our comments.
You may contact Matthew Cr ispino, Staff Attorney, at (202) 551-3456 or Barbara
C. Jacobs, Assistant Director at (202) 551- 3730 if you have any questions regarding the
above comments. If you need further assi stance, you may contact me at (202) 551-3451.
S i n c e r e l y , Mark Kronforst
Accounting Branch Chief