Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (1178)	12/21/1998 8:08:00 PM
From: Mr Metals	Read Replies (1) of 122087

BC Securities Commission - Internet touts ferreted out on Surf Day BC Securities Commission BCSEC Shares issued 0 1899-12-30 close $0 Monday Dec 21 1998 Also Ontario Securities Commission (ONSEC) by Brent Mudry Regulators with the British Columbia and Ontario securities commissions teamed up with their counterparts in 28 states for a one-day surf-a-thon in mid-November in a bid to ferret out Internet touts. In a release issued Monday, the Federal Trade Commission notes that securities regulators surfed over 400 web sites and Usenet group messages on "Surf Day," Nov. 12, looking for "bogus claims and illegal representations about investment opportunities." The cyber-miscreants were sent e-mail messages advising that their false claims violate the law. In addition, the North American Securities Administrators analyzed 1,000 spam messages forwarded by investors and discovered a "bear of a portfolio." "In an analysis of eight stocks touted in the e-mail conducted the week after Surf Day, none had reached the price projections claimed in the spam," states the FTC. In a caveat emptor message, the regulators warn investors that they should treat junk e-mail with at least as much skepticism as cold-calling brokers. "Investors should remember that the Internet, while the source of a great deal of legitimate investment information, can also be a tool of individuals who seek to use that information to manipulate stock prices or take advantage of unsuspecting individuals," states Mary Schapiro, president of NASD Regulation. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com MM

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