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The latest news is that “Tokyo Joe,” who used to be the hottest thing among Internet stock-pickers, has been charged by the Securities and Exchange Com-mission with civil stock fraud. The basic allegation: Joe, whose real name is Yun Soo Oh Park, purchased shares and then recommended them to people willing to pay for his advice, quickly reaping profits from their predictable rise in value. This is only one of the ways in which the Web can interact with the securities markets — and now there’s an excellent Web site devoted to those interactions. EnforceNet.com (www.enforcenet.com), created by Bruce Carton, an associate in the Reston, Va., office of Piper Marbury Rudnick & Wolfe, is indispensable to anyone who wants to understand the emerging issues. The site draws on a large variety of sources — SEC releases and speeches, articles from the trade and general press, and published law firm research from firm Web sites. And the issues are equally diverse. Can a company sue for “cybersmears” if false information is disseminated about it in a chat room? Should online brokerages be regulated differently from traditional ones? Is there anything wrong with investment analysts’ practice of holding conference calls to discuss their views on major companies’ prospects? (In the new world of online investing, the SEC chairman is concerned about unfair information disparities.) Admirably, Carton updates the site rapidly when developments require: I found two links to the “Tokyo Joe” story dated Jan. 5, the day it broke in the press.

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