Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : 1st Net Technologies ( FNTT ) -- Ignore unavailable to you. Want to Upgrade?

To: Greg Writer who wrote (1176)	3/31/1999 1:11:00 AM
From: Bill Ulrich	Read Replies (1) \| Respond to of 1827

Have you ever been in a&#151Turkish prison? ______________________________ &#147Do you own stock in FNTT?&#148

To: Greg Writer who wrote (1176)	3/31/1999 6:36:00 AM
From: Anaxagoras	Read Replies (1) \| Respond to of 1827

<<Do you own stock in FNTT? >> Hey everyone, who here likes raisins? Do you like raisins? I like raisins. Sometimes I eat them on my oatmeal at breakfast. They're tasty. Yum, yum! Anyone else have something relevant that they would like to share? Anaxagoras

To: Greg Writer who wrote (1176)	3/31/1999 10:04:00 AM
From: Q.	Respond to of 1827

Greg, re. <<Do you own stock in FNTT?>> Not yet. Are you soliciting me to buy some?

To: Greg Writer who wrote (1176)	4/5/1999 4:54:00 PM
From: Mitchell Ryan	Read Replies (2) \| Respond to of 1827

Greg, You've been awful quiet as of late. Heard from the SEC recently? Ryan ----------- dailynews.yahoo.com SEC Says It Strains To Fight Internet Fraud WASHINGTON (Reuters) - Federal securities regulators are straining under the weight of policing the Internet for securities fraud, lacking both the manpower and the tools to do the job, a top regulator said Monday. ''Policing the vast universe of the Internet is unquestionably our greatest challenge today,'' Richard Walker, head of the Securities and Exchange Commission's Enforcement Division, said in a speech at the National Press Club. ''What makes this challenge even tougher for us is that we do not have available to us new or additional resources to do the job,'' he added. But he warned that the SEC will continue to vigorously pursue online fraud. ''While it is true that our resources are strained by the growth of Internet fraud, it would be a mistake to underestimate our commitment to attacking fraud on the Net,'' Walker said. ''We can and we will spare no effort to fight fraud in this new medium.'' The SEC has come under criticism for being slow and ill-equipped to handle Internet fraud. It has filed about 66 enforcement cases since 1995, a number which critics say is too low given the scope of the problem. Out of more than 800 enforcement staffers nationwide, the SEC has about 125 who patrol the Web looking for various forms of fraud, ranging from stock touters to pyramid schemes, according to a recent speech in Washington by John Stark, head of the SEC's three-person Office of Internet Enforcement. That office, which is looking to hire two more people, oversees the SEC's cyberforce which, using Pentium-powered computers with high-speed transmission lines, is given special training to spot Internet fraud. The commission gets anywhere from 200-300 tips a day from people who e-mail the SEC at its website, www.sec.gov, which also offers basic investor education tips. Indeed, online securities fraud in the 90's has replaced insider trading in the 80's as the SEC's toughest challenge to date, Walker said. ''Policing insider trading was perhaps our greatest enforcement challenge a decade ago,'' he said. But now Internet fraud ''comes on top of all the other traditional types of fraud that have occupied our staff full time in the past.'' While his agency still continues to file insider trading charges today against the movers and shakers on Wall Street, Walker said it has had to do so less frequently. ''With limited exceptions, no longer do we see insider trading in large magnitude by investment bankers and other Wall Street professionals, though we still bring cases against such persons.'' SEC Chairman Arthur Levitt will lay out in more detail what his agency is doing to combat Internet fraud in a speech early next month at the National Press Club, Walker said. --------------------------------------------------------------------------------

To: Greg Writer who wrote (1176)	4/6/1999 11:58:00 AM
From: Josef Svejk	Read Replies (1) \| Respond to of 1827

Extend jurisdiction One proposal by Collins would allow the SEC to bar broker-dealers who have violated the law not just from the brokerage industry, but from promoting microcap stocks as well. Under current law, a broker barred from the industry by the SEC, even for fraud, remains free to come back as a "promoter." The SEC has no direct regulatory jurisdiction over promoters, creating a path that allows corrupt brokers to continue deceiving investors, Walker said. Collins has also proposed a measure that would allow the SEC to bring follow-up administrative proceedings based on actions by state securities regulators. Walker said state regulators have been actively cracking down on microcap and Internet fraud, but noted that their remedies generally apply to activities within their borders. The Collins proposal would allow the SEC to make such orders effective nationwide. Path: #reply-8728595