Narrative:

Departed lax for smo. Lax departure control turned aircraft X to the downwind level at 4000 ft and switched the aircraft to me. I observed a 4300 ft VFR target exiting the lax special flight rules area descending. Both aircraft were on a collision course. I called a traffic alert and the pilot told me he had the aircraft in sight and was descending to avoid it. After the targets passed, the pilot informed me that he also responded to an RA (TCASII). Had he not descended, they would have hit.

Google
 

Original NASA ASRS Text

Title: NMAC BTWN A FALCON 2000, IN LEVEL FLT IN CLASS E AIRSPACE, ABOVE THE SMO CLASS D AIRSPACE, AND AN UNKNOWN ACFT DSNDING OUT OF LAX CLASS B AIRSPACE FROM ABOVE.

Narrative: DEPARTED LAX FOR SMO. LAX DEP CTL TURNED ACFT X TO THE DOWNWIND LEVEL AT 4000 FT AND SWITCHED THE ACFT TO ME. I OBSERVED A 4300 FT VFR TARGET EXITING THE LAX SPECIAL FLT RULES AREA DSNDING. BOTH ACFT WERE ON A COLLISION COURSE. I CALLED A TFC ALERT AND THE PLT TOLD ME HE HAD THE ACFT IN SIGHT AND WAS DSNDING TO AVOID IT. AFTER THE TARGETS PASSED, THE PLT INFORMED ME THAT HE ALSO RESPONDED TO AN RA (TCASII). HAD HE NOT DSNDED, THEY WOULD HAVE HIT.

Data retrieved from NASA's ASRS site as of July 2007 and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.