[Raven] SEC surveillance system

"P.J. Ponder" <ponder@freenet.tlh.fl.us> Wed, 29 March 2000 12:38 UTC

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Date: Wed, 29 Mar 2000 07:45:36 -0500 (EST)
From: "P.J. Ponder" <ponder@freenet.tlh.fl.us>
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Subject: [Raven] SEC surveillance system
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(for our international readers and the acronym disadvantaged, 'SEC' is the
US government agency that monitors and regulates financial markets, stock
trading, and other related activities, ostensibly to ensure competition
and to protect the innocent investing public.)


SEC Creating Web Surveillance 

AP Business Writer 

WASHINGTON (AP) -- Federal regulators, on the lookout for
phrases such as "get rich quick,'' are creating an automated
surveillance system to search Web sites and message
boards for investment fraud. 

But a major accounting firm says it won't participate because
the Securities and Exchange Commission's new system
might encroach on the privacy of innocent people using the

The technology in the enhanced SEC surveillance program "is
equivalent to, in my opinion, wiretapping ... the equivalent of
planting a bug,'' said Larry Ponemon, a partner in charge of
privacy issues at PricewaterhouseCoopers, one of the world's
largest accounting and consulting firms. 

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