FOR IMMEDIATE RELEASE                               2000-64

       SEC And Regulators From Around The World Conduct An
      International Surf Day To Help Combat Internet Fraud

     Washington, DC, May 15, 2000 -- The Securities and Exchange
Commission announced today that, in collaboration with twenty of
its regulatory counterparts, it conducted on March 28, 2000 an
International Internet Surf Day.  This effort, which was
initiated by the International Organization of Securities
Commissions (IOSCO), was designed to detect and deter securities
violations occurring on the Internet, particularly those
involving cross-border activity.  This coordinated effort was
undertaken in recognition of the fact that the Internet offers
investors access to a global marketplace, but can also be used to
defraud investors.

     During the International Internet Surf day, approximately
220 staff members from twenty-one regulatory authorities
collectively identified over 1,000 sites for follow-up review.
Over 250 of the sites involved cross-border activity.   Of the
more than 200 sites visited by SEC staff, 78 were identified for
follow-up review by the participating regulators.  Many of these
involved potential unregistered offerings, pyramid schemes,
unlicensed investment advice, and high-yield investments.
     
     The SEC recognizes that effective enforcement efforts to
address illegal cross-border activity require cooperation among
regulators from around the world, and will continue to engage in
international cooperative efforts to identify and combat illegal
cross-border activity.
     
     List  of  participating  IOSCO  members  and  their  website
addresses:
   
     IOSCO Member Organization                   Website Address
     AUSTRALIA - Australian Securities and       http://www.asic.gov.au/
     Investments Commission
     CANADA - Ontario Securities Commission      http://www.osc.gov.on.ca/
     CANADA - Commission des Valeurs MobiliŠres  http://www.cvmq.com/
     du Qu‚bec
     FRANCE - Commission des Op‚rations de       http://www.cob.fr/
     Bourse
     GERMANY - Bundesaufsichtsamt Fr Den        http://www.bawe.de/index.htm
     Wertpapierhandel
     GREECE - Capital Market Commission          
     HONG KONG - Securities and Futures          http://www.hksfc.org.hk/eng/index.
     Commission                                  htm
     ITALY - Commissionne Nazionale Per Le       http://www.consob.it/
     Societa E La Borsa
     JAPAN - Securities and Exchange             http://www.fsa.go.jp/sesc/sesc-
     Surveillance Commission                     j.html
     MEXICO - Comision Nacional Bancaria y de    http://www.cnbv.gob.mx/index.htm
     Valores De Mexico
     NETHERLANDS - Stichting Toezicht            http://www.ste.nl/
     Effectenverkeer
     NORWAY - Kredittilsynet                     http://www.kredittilsynet.no/
     POLAND - Polish Securities and Exchange     
     Commission
     PORTUGAL - Commissao do Mercado de Valores  http://www.cmvm.pt/
     Mobili rios
     SPAIN - Comisi˘n Nacional del Mercado de    http://www.cnmv.es/
     Valores
     SWEDEN - Finansinspektionen                 http://www.fi.se/
     SWITZERLAND - Swiss Federal Banking         http://www.sfbc.admin.ch/
     Commission
     UNITED KINGDOM - Financial Services         http://www.fsa.gov.uk/
     Authority
     UNITED STATES - Commodity Futures Trading   http://www.cftc.gov/
     Commission
     UNITED STATES - National Futures            http://www.nfa.futures.org/
     Association
     UNITED STATES - Securities and Exchange     http://www.sec.gov/
     Commission
   
Many of the above listed IOSCO members will announce separately
the results of their participation in the International Internet
Surf Day. You can contact the members directly for further
information.
   
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