By Lisa Burroughes, 19 February 1999 16:04
NEWS A member of the US Securities and Exchange Commission (SEC) has called for an investigation into online trading. Laura Unger is pushing for a full scale investigation into the reliability of investment research information, saying investors are increasingly being sent junk mail that is passed off as official research. But Michael Walton, CEO of Internet consultancy firm NVision, doesn't believe an investigation will slow down usage of online trading systems. "This will have no effect whatsoever. There are plenty of people making money using the online trading companies. They also keep in mind that the system mostly works reliably," he said. Walton added that research reliability is not be an issue in the UK. "The UK has a long way to go before it sees the kind of trading volume there is in the US. And at the moment the services don't compare. Schwab in the UK doesn't offer the same level of analyst report and quality of information as its service in the US does." Online trading companies were criticised earlier this month by the SEC for a series of crashes caused by computer system failures.
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