SEC Will be Watchdog for Internet Trading
In an announcement to the AICPA, SEC Enforcement Director Richard Walker said the Commission has received $7 million in funds from the President's 2000 appropriations bill.
The SEC will use the funds to monitor online trading to ensure companies involved in transactions are reporting figure properly and there is no inappropriate activity. Simply, they are finding that there will be no stock manipulations.
In the past year, the SEC has surveyed traders to find 83 people and firms committing fraud.