SEC mulls over regulation of financial sites

SEC mulls over regulation of financial sites

The Securities and Exchange Commission is considering how to distinguish between Web sites that offer investment information and online brokerages looking to drum up business.

width="110">The commission has a duty to protect online investors who may not be able to tell the difference between an information portal and a brokerage site offering self-serving advice, said acting SEC chairman Laura S. Unger. She spoke late last month during a commission roundtable on Web portals.

At the roundtable, brokers, attorneys and managers of investment information portals such as CBS' discussed payment arrangements between portals and advertisers, such as brokerages that pay when users click on their links.

'At what point does the investment advice site start to look like a broker site?' SEC spokesman John Nester said.

'D. Bhambhani

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