SEC NEWS DIGEST

Issue 2004-130                                                  July 8, 2004
     


RULES AND RELATED MATTERS
     

PROPOSED RULES TO LIMIT AFFILIATE MARKETING SOLICITATIONS

     The  Commission  is seeking public comment on proposed Regulation  S-AM,
     which  would give consumers a chance to "opt out" before a company  uses
     certain  information  provided by an affiliate  to  market  products  or
     services  to  the  consumer.  Proposed Regulation S-AM  would  implement
     Section  214  of the Fair and Accurate Credit Transactions Act  of  2003
     (FACT  Act),  which adds a new Section 624 to the Fair Credit  Reporting
     Act.  The proposed rules generally prohibit a company from using certain
     information received from an affiliate to market products or services to
     a  consumer  unless  the consumer first has been  given  notice  and  an
     opportunity  to opt out of receiving such solicitations.  An institution
     that  has  a pre-existing business relationship with the consumer  would
     not  be  subject  to  this  marketing  limitation.   The  Federal  Trade
     Commission,  Board of Governors of the Federal Reserve  System,  Federal
     Deposit  Insurance  Corporation, National Credit  Union  Administration,
     Office  of  the  Comptroller  of  the Currency,  and  Office  of  Thrift
     Supervision also have proposed affiliate marketing rules.
     
     Comments on the proposed rules should be received no later than 30  days
     after  the  date  of  their publication in the  Federal  Register.   FOR
     FURTHER INFORMATION, PLEASE CONTACT:  With respect to the proposed rules
     as  they  relate to brokers, dealers, or transfer agents,  contact  Tara
     Prigge, Office of Chief Counsel, Division of Market Regulation, at (202)
     942-0073,  and  with respect to the proposed rules  as  they  relate  to
     investment  advisers  and  investment  companies,  contact  Penelope  W.
     Saltzman,   Office   of  Regulatory  Policy,  Division   of   Investment
     Management, at (202) 942-0690.  (Rels. 34-49985, IC-26494, IA-2259; File
     No. S7-29-04)


ENFORCEMENT PROCEEDINGS
     

OCUMED STOCK REGISTRATION REVOKED

     The  registration of the stock of Ocumed Group, Inc., (Ocumed) has  been
     revoked.   Ocumed's  purported  business  was  the  sale  of  ophthalmic
     products.   The  revocation was ordered in an administrative  proceeding
     before an administrative law judge.
     
     Ocumed's stock was registered with the Commission in 1999.  It  did  not
     file  its annual report for the year ended April 30, 2003, and  did  not
     file  its  quarterly reports for the quarters ended July 31, 2003,  Oct.
     31,  2003, and Jan. 31, 2004.  Thus, it violated a crucial provision  of
     the  federal  securities  laws  that  requires  public  corporations  to
     publicly  disclose  current,  accurate  financial  information  so  that
     investors  may  make  informed decisions.  Accordingly,  the  law  judge
     revoked  the registration of its stock to serve the public interest  and
     for the protection of investors.  (Rel. 34-49976; File No. 3-11501)

COMMISSION  DENIES  PETITION FOR EAJA FEES BY REGISTERED  REPRESENTATIVES  OF
BROKER-DEALER AND REGISTERED INVESTMENT ADVISER

     The  Commission  has denied the application for fees and expenses  under
     the  Equal  Access to Justice Act (EAJA) of Michael Flanagan and  Ronald
     Kindschi,  registered  representatives of registered  broker-dealer  FSC
     Securities  Corporation,  and  registered  investment  adviser  Spectrum
     Administration, Inc. (applicants).
     
     The  Commission found that, although the Commission earlier decided that
     the   Division  of  Enforcement  had  not  proved  its  charges   by   a
     preponderance  of the evidence in an underlying proceeding  against  the
     applicants for failure to disclose the differences in costs and expenses
     between  investments in Class A and Class B shares of mutual funds,  the
     Division  of  Enforcement  nonetheless was  substantially  justified  in
     originally  bringing  the case against the applicants.   The  Commission
     found  that the Division's case was substantially justified in both  law
     and fact.  Under the EAJA and case law interpreting it, a petitioner  is
     not entitled to receive fees and expenses when the government's case  is
     substantially justified.  (Rels. 33-8437; 34-49979; IA-2258; File No. 3-
     9784 - EAJA)

DIVISION  OF ENFORCEMENT SEEKS PENNY STOCK BARS AGAINST RICHARD KERN,  DONALD
KERN AND CHARLES WILKINS

     On  July  7,  the  Commission issued an Order Instituting Administrative
     Proceedings pursuant to Section 15(b)(6) of the Securities Exchange  Act
     of  1934  against Richard S. Kern, Donald R. Kern, and Charles  Wilkins,
     based  on the final judgment entered against them in SEC v. Lybrand,  et
     al.,  Civ.  No.  00-1387 (S.D.N.Y.).  The U.S. District  Court  for  the
     Southern District of New York entered a final judgment on Oct. 6,  2003,
     enjoining the Kerns and Wilkins from future violations of Sections  5(a)
     and  5(c) of the Securities Act of 1933.  In addition, the U.S. District
     Court  for the Southern District of New York entered final judgments  of
     consent on June 28, 2004, enjoining the Kerns and Wilkins from violating
     Section  10(b)  of the Securities Exchange Act of 1934  and  Rule  10b-5
     thereunder.
     
     The  Commission's complaint in that action alleged, among other  things,
     that  from  April  1998  through January 1999,  the  Kerns  and  Wilkins
     participated  in  a  scheme  to create artificial  trading  markets  for
     certain  shell corporations, and used manipulative trading practices  to
     drive  up  the stock prices of the shell corporations for their benefit.
     In  particular,  the  complaint  alleged  that  the  Kerns  and  Wilkins
     transferred  millions of unregistered shares of the shell  corporations'
     securities to Lybrand to manipulate, and sold unregistered shares to the
     public.   The  Kerns and Wilkins realized profits of $5.9 million  as  a
     result   of   their  sales  of  the  shell  corporations'   unregistered
     securities.
     
     A  hearing  will  be  scheduled before an administrative  law  judge  to
     determine  whether the allegations contained in the Order are  true,  to
     provide   the  Kerns  and  Wilkins  an  opportunity  to  dispute   these
     allegations,  and to determine whether a penny stock bar is  appropriate
     and in the public interest.  (Rel. 34-49980; File No. 3-11537)
     
J.  MICHAEL  SCARBOROUGH AND ROYAL ALLIANCE ASSOCIATES, INC.  SANCTIONED  FOR
MUTUAL FUND SALES PRACTICE VIOLATIONS AND FAILURE TO SUPERVISE

     On July 8, the Commission announced the issuance of an Order Instituting
     Administrative  and Cease-and-Desist Proceedings, Making  Findings,  and
     Imposing  Remedial  Sanctions and a Cease-and-Desist Order  Pursuant  to
     Section  8A  of  the  Securities Act of 1933 and Section  15(b)  of  the
     Securities Exchange Act of 1934 against J. Michael Scarborough and Royal
     Alliance  Associates, Inc. (Royal Alliance), a broker-dealer  registered
     with   the   Commission  and  headquartered  in  New  York,  New   York.
     Scarborough  has been the manager of Royal Alliance's branch  office  in
     Annapolis,  Maryland  since  1996.  Without  admitting  or  denying  the
     findings  in  the  Order, Scarborough and Royal  Alliance  consented  to
     sanctions imposed by the Order.
     
     The  Commission's Order finds violations of the federal securities  laws
     by  Scarborough in connection with the offer and sale of Class B  shares
     issued  by  mutual funds, as well as supervisory failures by Scarborough
     and  Royal Alliance.  From 1998 through early 2000, Scarborough, through
     the  registered  representatives under his supervision,  sold  brokerage
     customers Class B mutual fund shares in amounts that would have entitled
     them  to  sales  charge discounts for large purchases (breakpoints)  had
     they purchased Class A shares of the same funds. Scarborough, along with
     the registered representatives, disclosed the characteristics of Class A
     shares  and Class B shares to customers, including a description of  the
     discounts to which the customers would have been entitled, but  did  not
     tell  them  that  Class A shares generally produce higher  returns  than
     Class  B  shares of the same mutual fund when purchased  in  amounts  of
     $100,000 or more.  If all of the customers who purchased Class B  shares
     in  amounts  of  $100,000 or more had purchased Class A shares  instead,
     those customers would have paid $1.7 million less in commissions.
     
     The  Order  finds that between 1998 and early 2000, of the  406  broker-
     dealer customers who qualified for a breakpoint at the $100,000 level or
     above,  399  customers, or 98 percent, purchased  Class  B  shares  even
     though all of these customers would have paid lower commissions and fees
     and enjoyed higher overall returns had they purchased Class A shares.
     
     The  Order  finds that Scarborough also failed reasonably  to  supervise
     registered  representatives at the branch office  who  engaged  in  this
     conduct   under   his  direction.   Similarly,  Royal  Alliance   failed
     reasonably to supervise Scarborough, its branch manager, as well as  the
     registered  representatives, with regard  to  these  mutual  fund  sales
     practices.    Although  Royal  Alliance  had  policies  and   procedures
     addressing  the  type of sales practices that Scarborough  utilized,  it
     failed to implement systems to adequately monitor compliance with  these
     policies and procedures.
     
     The  Order  finds that Scarborough willfully violated Sections  17(a)(2)
     and  17(a)(3)  of  the  Securities Act and that  Scarborough  and  Royal
     Alliance  failed  reasonably to supervise  with  a  view  to  preventing
     violations of the securities laws.
     
     The Commission ordered that Scarborough cease-and-desist from committing
     or  causing  any violations and any future violations of the  provisions
     charged;  be suspended from acting in any supervisory capacity with  any
     broker  or dealer for a period of nine months; and pay disgorgement  and
     prejudgment  interest  in the total amount of $2,111,084,  and  a  civil
     penalty of $50,000.  Royal Alliance was censured; ordered to disgorge $1
     and  to  pay  a civil penalty of $150,000; and required to  comply  with
     certain  undertakings.  The disgorgement and penalty  payments  will  be
     distributed  to  harmed customers pursuant to a Fair Fund.   (Rels.  33-
     8438; 34-49982; File No. 3-11538)
     
SEC SUSPENDS KIRK DISCHINO FROM APPEARING OR PRACTICING BEFORE THE COMMISSION
AS AN ACCOUNTANT

     On  July  8,  the  Commission issued an Order Instituting Administrative
     Proceedings  Pursuant  to  Rule  102(e) of  the  Commission's  Rules  of
     Practice,  Making  Findings,  and Imposing  Remedial  Sanctions  (Order)
     against  Kirk  J. Dischino.  The Order finds that on June  30  the  U.S.
     District  Court for the District of New Jersey entered a final  judgment
     permanently  enjoining  Dischino  against  further  violations  of   the
     relevant  antifraud, reporting, books-and-records, and internal controls
     provisions  of the federal securities laws in the civil action  entitled
     SEC  v. Measurement Specialties, Inc. and Kirk J. Dischino, 04 Civ. 3000
     (KSH)(D.N.J.).  The Commission's complaint in the civil action, filed on
     June  28, charged Dischino with accounting fraud and insider trading  in
     connection   with  his  conduct  as  the  chief  financial  officer   of
     Measurement  Specialties,  Inc. (MSI), a New Jersey-based  manufacturing
     company.   The complaint also charged MSI with accounting  fraud.   Both
     defendants  settled the civil action, without admitting or  denying  the
     Commission's  allegations.  The final judgment requires  MSI  to  pay  a
     penalty  of  $1  million, and requires Dischino to pay disgorgement  and
     penalty  totaling  in excess of $450,000.  On June 28  Dischino  pleaded
     guilty to related criminal charges.

     Based  on  the  entry of the injunction in the civil action,  the  Order
     suspends Dischino from appearing or practicing before the Commission  as
     an  accountant.  Dischino consented to the issuance of the Order without
     admitting   or  denying  the  findings  in  the  Order.    For   further
     information, see Litigation Release No. 18765 (June 28, 2004).  (Rel. 34-
     49984; AAE Rel. 2050; File No. 3-11539)
          
SEC CHARGES KENNETH LAY, ENRON'S FORMER CHAIRMAN AND CHIEF EXECUTIVE OFFICER,
WITH FRAUD AND INSIDER TRADING
                                      
Complaint  Alleges Participation in Scheme to Defraud With  Skilling,  Causey
and  Others; Seeks Civil Penalty and Recovery of Over $90 Million In Unlawful
Proceeds from Stock Sales

     The  Commission  today initiated civil charges against Kenneth  L.  Lay,
     former  Chairman  and  Chief  Executive  Officer  of  Enron  Corp.,  for
     violating,  and  aiding  and  abetting  violations  of,  the  antifraud,
     periodic  reporting, books and records, and internal controls provisions
     of  the federal securities laws. [Section 17(a) of the Securities Act of
     1933  (Securities Act) and Section 10(b) of the Securities Exchange  Act
     of  1934 (Exchange Act), and Exchange Act Rule 10b-5, and for aiding and
     abetting the violation of Sections 13(a), and 13(b)(2)(A) and (B) of the
     Exchange  Act,  and  Exchange Act Rules 12b-20  and  13a-11].   In  this
     action, the Commission is seeking disgorgement of all ill-gotten  gains,
     civil  money  penalties, a permanent bar from acting as  a  director  or
     officer  of  a  publicly held company, and an injunction against  future
     violations of the federal securities laws.

     The  Commission today, subject to the approval of the Honorable  Melinda
     Harman,  U.S.  District  Court Judge, filed a Second  Amended  Complaint
     seeking  to  add Lay to its pending action against Jeffrey K.  Skilling,
     Enron's  former President, CEO and Chief Operating Officer, and  Richard
     A. Causey, Enron's former Chief Accounting Officer.  The proposed Second
     Amended  Complaint alleges that Lay and others engaged in a wide-ranging
     scheme  to  defraud  by falsifying Enron's publicly  reported  financial
     results  and  making  false and misleading public representations  about
     Enron's business performance and financial condition.  In addition,  the
     proposed  Second  Amended Complaint alleges that Lay profited  from  the
     scheme to defraud by selling large amounts of Enron stock at prices that
     did  not reflect its true value.  The sales also occurred while Lay  was
     in  possession of material non-public information concerning  Enron  and
     generated  unlawful  proceeds  in excess of  $90  million  during  2001.
     Specifically,  Lay  sold over $70 million in Enron  stock  back  to  the
     company to repay cash advances on an unsecured Enron line of credit.  In
     addition,  while  in possession of material non-public information,  Lay
     amended  two  program trading plans to enable him to sell an  additional
     $20  million in Enron stock in the open market.  Lay's proceeds from the
     sales constitute illegal gains resulting from his scheme to defraud.

  Specifically,  the  Commission's Proposed Second Amended Complaint  alleges
  as follows:
  
  *  Lay's Early Participation in the Scheme to Defraud.  Lay, along  with
     others at Enron, engaged in a wide-ranging scheme to defraud in violation of
     the federal securities laws.  During 2001, with specific knowledge of rapidly
     deteriorating performances of Enron's business units, Lay made numerous false
     and misleading public statements about Enron's financial condition.   As
     Enron's Chairman and CEO, Lay had oversight of Enron's business units and
     supervised the senior executives and managers of these units, reviewed drafts
     of public filings and draft press releases, and participated in conference
     calls with investment analysts.
  
     In  presentations  to  the  investing public,  Lay  and  others  heavily
     emphasized  the  performance and potential of Enron  Broadband  Services
     (EBS)  and  Enron  Energy  Services (EES).  To support  what  Enron  had
     already said about EES, Lay and others concealed massive losses in  EES'
     business  through  fraudulently manipulating Enron's  "business  segment
     reporting."  They accomplished this at the close of the first quarter of
     2001  through a reorganization designed to conceal the magnitude of EES'
     business failure, which was known to Lay as early as January 2001.  With
     Lay's  approval,  Enron hid that failure from the  investing  public  by
     moving  large portions of EES' business - which Lay and others  knew  at
     the  time would have to otherwise report hundreds of millions of dollars
     in  losses - into Enron Wholesale, which was the Enron business  segment
     housing  most  of the company's wholesale energy trading operations  and
     income.   As Lay and others knew, Enron Wholesale had ample earnings  to
     absorb the EES losses, while at the same time continuing to meet its own
     internal  budget targets.  Lay made the false and misleading  statements
     to persuade investors that Enron's profitability would continue to grow,
     to  maintain  credit ratings, to influence investment analysts,  and  to
     prop up the share price of Enron stock.

     Lay  knew  of  Enron's  use  of structured transactions  -  specifically
     prepays  and  the infamous Raptors - to misstate its financial  results.
     Enron  entered  into  circular transactions that were  characterized  as
     prepay  forward contracts in order to disguise borrowings as  cash  from
     operations.   Lay  was aware of the importance and magnitude  of  prepay
     transactions to create operating cash flow and thereby maintain  Enron's
     investment  grade credit rating.  Lay was aware that the  credit  rating
     agencies  were not told the magnitude of Enron's prepay obligations  and
     that  this  information was not disclosed in Enron's public filings.  In
     addition, Enron created the Raptor structures to "hedge" volatile assets
     against  any  potential  decline in value.  The manner  in  which  Enron
     structured and funded the Raptors meant that any hedging losses  in  the
     Raptors would ultimately be borne by Enron.   Lay understood that  Enron
     used the Raptors for earnings management and that decreases in the price
     of Enron stock threatened the viability of the Raptors.

  *  Lay Knowledge of Additional Problems Following Skilling's Resignation.
     On July 13, 2001, Skilling unexpectedly told Lay he was resigning because he
     felt  there was nothing he could do to stop the decline in Enron's stock
     price.  On August 14, Enron issued a press release, with Lay's approval, that
     announced Skilling had resigned for personal reasons.  In a conference call
     with investment analysts later that same day, Lay repeatedly asserted that,
     "there  are  absolutely no problems that had anything to do with  Jeff's
     departure . . . there are no accounting issues, no trading issues, no reserve
     issues  . . . unknown, previously unknown problems, issues . . .  I  can
     honestly say that the company is probably in the strongest and best shape . .
     . that it's probably ever been in."  Regarding EES, Lay offered that "we've
     been doubling revenue and doubling income quarter on quarter, year on year
     for now about the last three years.  We expect that to continue to grow very,
     very strong. . . ."
     
     After   Skilling  resigned,  Lay  met  repeatedly  with  Enron's  senior
     management,  who  described  for  him  Enron's  deteriorating  financial
     condition.   Lay  was  advised  internally of  accounting  improprieties
     regarding  the  Raptors  and that various assets  and  investments  were
     overvalued  on  Enron's books and records by approximately  $7  billion.
     During  this period, Lay repeatedly received internal financial  reports
     consistent  with  these  problems.   In  August  and  September,  senior
     executives  informed  Lay that Enron was facing an  increasing  earnings
     shortfall,  hundreds of millions of dollars in losses, a  proposed  non-
     recurring  charge  relating to certain investments,  and  an  accounting
     error  in excess of $1 billion.  Enron's problems were so severe that  a
     senior  executive  informed  Lay that Enron  needed  to  consider  being
     acquired or selling its prized pipelines.
  
  *  Lay  Continued  to  Mislead the Public - August and  September  2001.
     Despite specific knowledge of Enron's deteriorating financial condition, Lay
     continued  to make false and misleading public statements about  Enron's
     financial performance.  In meetings with research analysts and in public
     statements, Lay falsely and misleadingly stated there were "no accounting
     issues," "no reserve issues," and "no other shoes to fall" at Enron.  Lay
     made a series of false and misleading statements during an Enron employee
     online forum, including that: "[t]he third quarter is looking great.  We will
     hit our numbers.  We are continuing to have strong growth in our businesses,"
     "we have record operating and financial results," and "the balance sheet is
     strong."  In addition, Lay misled Enron employees regarding his purchases of
     Enron stock when he informed them that he had purchased additional shares
     over the last couple of months.  In making this statement, Lay concealed that
     he had made net sales of over $20 million in Enron stock in the preceding two
     months.
     
  *  The  Oct. 16, 2001 Third Quarter Earnings Release.  In a meeting with
     other senior executives one month prior to Enron's third quarter earnings
     release, Lay learned that Enron had incorrectly accounted for the Raptor
     transactions, and as a result, Enron shareholders' equity would be reduced by
     $1.2 billion.  Lay also knew that the Raptors were being terminated  and
     combined with other pending write-downs that would result in an earnings
     charge of $1.01 billion.  Specifically, Lay knew that these two items - the
     $1.01 billion earnings charge and the $1.2 billion reduction of shareholder
     equity - were unrelated, and that the reduction to shareholders' equity was
     required  whether or not the Raptors were terminated.  Lay reviewed  and
     approved Enron's earnings release that reported a "nonrecurring" earnings
     charge of $1.01 billion, a majority of the charge ($544 million) relating to
     the early termination of the Raptors.  Lay knew that the characterization of
     the termination of the Raptors as "nonrecurring" losses was erroneous and
     inconsistent both with advice Enron had received from its auditor and Enron's
     past treatment of Raptor earnings as recurring operating earnings.  Lay and
     others  intentionally omitted any reference to the $1.2  billion  equity
     reduction from the press release.  In a conference call with analysts to
     discuss the earnings release, Lay falsely stated that "in connection with the
     early termination" of the Raptors, Enron's shareholders' equity would be
     reduced  by  $1.2 billion.  Lay did not disclose, as he knew,  that  the
     reduction was principally due to a significant accounting error, as opposed
     to the termination of the Raptors.
  
  *  Lay's Last Ditch Efforts -- October and November 2001.  In an effort to
     calm deepening public concern regarding the decline in Enron's stock price,
     Lay participated in conference calls with analysts and others.  In these
     calls, Lay made false and misleading statements regarding Enron's financial
     health.  For example, Lay stated, "[Enron is] not trying to conceal anything.
     We're not hiding anything," and "[w]e're really trying to make sure that the
     analysts and the shareholders and the debt holders really know what's going
     on here.  So, we are not trying to hold anything back."  In a telephone call
     with a prominent credit rating agency, Lay falsely stated that Enron and its
     auditors had "scrubbed" the company's books and that no additional write-
     downs would be forthcoming.  In fact, Lay knew that Enron was carrying its
     international assets at billions in excess of their fair value and that Enron
     had  failed to disclose a $700 million goodwill impairment.  In an  all-
     employee meeting to reassure Enron's employees, Lay falsely described Enron's
     liquidity, stating that "[o]ur liquidity is fine.  As a matter of fact, it's
     better than fine, it's strong. . ."  At the time he made the statement, Lay
     knew that Enron had been forced to offer its prized pipelines as collateral
     for a $1 billion bank loan and that the only source of liquidity was a $3
     billion line of credit, which was fully utilized on Lay's authority.  In
     addition, Lay made misleading statements about Enron stock and its prospects.
     Lay misleadingly stated, "as sad as the current market price is . . . [b]ut
     we're going to get it back" and "that doesn't mean we can't get back up to
     the $80s or $90s in the not-too-distant future."  At the time he made the
     statement, with Enron stock trading at less than $20 per share, Lay did not
     disclose that he had quietly sold over $65 million of Enron stock back to the
     company during 2001.
  
  *  Lay's Sales of Enron Stock Back to Enron.  From Jan. 25, 2001 to Nov.
     27, 2001, Lay took advances on a non-collateralized $4 million line of credit
     with  Enron in the total amount of $77,525,000.  Thereafter,  in  twenty
     separate transactions, Lay repaid the credit line by selling $70,104,762
     worth  of  Enron stock back to the company, at prices he  knew  did  not
     accurately reflect Enron's true financial condition.  For example, after
     learning of Enron's undisclosed plan to hide over $500 million in EES losses
     in ENA, Lay sold 1,086,571 shares of Enron common stock back to the company,
     in  11  transactions, for a total of $34,081,558.  Following  Skilling's
     resignation on Aug. 14, 2001, at a point when Lay was learning more about
     Enron's deteriorating financial condition, Lay sold 918,104 shares of Enron
     common stock back to the company, in five transactions, totaling $26,066,474.
     As Lay tried to prop up Enron's stock price following Enron's third quarter
     earnings release on Oct. 16, 2001, Lay sold 362,051 shares of Enron stock
     back to the company, in four transactions, totaling $6,050,232.  Enron's
     shareholders and employees, much less the public, did not learn of Lay's
     sales of Enron stock back to the company until February 2002, over two months
     after Enron filed for bankruptcy protection.
  
     Lay  also made withdrawals from his line of credit totaling $7.5 million
     between  October 24 and Nov. 27, 2001, at a point when Enron's financial
     condition was crumbling.
  
  *  Lay's Sales of Enron Stock Pursuant to Amended 10b5-1 Plans.  On Nov. 1,
     2000, Lay established two program sales plans under Commission Rule 10b5-1.
     Subsequently, Lay amended both plans.  At the time Lay amended both plans, he
     was  in  possession of material nonpublic information concerning Enron's
     deteriorating financial condition, meaning Lay cannot use the plans as a
     defense to insider trading charges.  Under the amended plans, Lay unlawfully
     sold over 350,000 Enron shares for total proceeds in excess of $20 million.
  
     The Commission's investigation is continuing.  [SEC v. Richard A.
     Causey, Jeffrey K. Skilling and Kenneth L. Lay, Civil Action No. H-04-
     0284 (Harmon) (S.D. Tx.) (July 8, 2004) (Second Amended Complaint)] (LR-
     18776; AAE Rel. 2051; Press Rel. 2004-94)


HOLDING COMPANY ACT RELEASES
     

CONNECTICUT LIGHT AND POWER COMPANY

     A  supplemental order has been issued authorizing Connecticut Light  and
     Power Company (CL&P), an electric public utility subsidiary of Northeast
     Utilities,  a  registered holding company, and CL&P's  subsidiary,  CL&P
     Receivables  Corporation  (CRC), to engage  in  an  accounts  receivable
     purchase and sale program and for CRC to pay dividends out of capital to
     CL&P, both through July 3, 2007.  (Rel. 35-27873)


SELF-REGULATORY ORGANIZATIONS
     

PROPOSED RULE CHANGE

     The Chicago Stock Exchange filed a proposed rule change (SR-CHX-2004-14)
     relating  to  the handling of preopening orders in Nasdaq/NM securities.
     Publication of the notice in the Federal Register is expected during the
     week of July 12.  (Rel. 34-49978)

APPROVAL OF PROPOSED RULE CHANGE

     The   Commission   approved  a  proposed  rule  change  (SR-CHX-2004-08)
     submitted by the Chicago Stock Exchange to amend the CHX membership dues
     and fees schedule to provide a tape credit of 50% to specialists trading
     Tape  A and Tape B securities.   Publication of the order in the Federal
     Register is expected during the week of July 12.  (Rel. 34-49981)


SECURITIES ACT REGISTRATIONS
     

     The following registration statements have been filed with the SEC under
     the  Securities  Act  of  1933.   The reported  information  appears  as
     follows:   Form,  Name, Address and Phone Number (if available)  of  the
     issuer  of the security; Title and the number and/or face amount of  the
     securities being offered; Name of the managing underwriter or  depositor
     (if  applicable);  File number and date filed; Assigned  Branch;  and  a
     designation if the statement is a New Issue.

     Registration statements may be obtained in person or by writing  to  the
     Commission's  Public  Reference  Branch  at  450  Fifth  Street,   N.W.,
     Washington,  D.C.  20549  or  at  the  following  e-mail  box   address:
     <publicinfo@sec.gov>.  In most cases, this information is also available
     on the Commission's website: <www.sec.gov>.

     
S-8     EMAGIN CORP, 2070 ROUTE 52, SUITE 2000, HOPEWELL JUNCTION, NY, 12533,
        845 838 7900 - 1,000,000 ($1,700,000.00) Equity, (File 333-117181 -
        Jul. 7) (BR. 36)

S-8     SKY FINANCIAL GROUP INC, 221 SOUTH CHURCH STREET, BOWLING GREEN, OH,
        43402, 4193276300 - 500,000 ($12,557,500.00) Equity, (File 333-117184 -
        Jul. 7) (BR. 07)

S-8     SKY FINANCIAL GROUP INC, 221 SOUTH CHURCH STREET, BOWLING GREEN, OH,
        43402, 4193276300 - 3,500,000 ($73,902,500.00) Equity,
        (File 333-117185 - Jul. 7) (BR. 07)

S-3     SKY FINANCIAL GROUP INC, 221 SOUTH CHURCH STREET, BOWLING GREEN, OH,
        43402, 4193276300 - 1,000,000 ($25,115,000.00) Equity,
        (File 333-117186 - Jul. 7) (BR. 07)

N-2     PIMCO Floating Rate Strategy Fund, 1345 AVENUE OF THE AMERICAS,
        NEW YORK, NY, 10105, 212 739-3502 - 1,000 ($20,000.00) Equity,
        (File 333-117187 - Jul. 7) (BR. 22)

S-8     AMARU INC, 120 NEWPORT CENTER DRIVE, SUITE 200, NEWPORT BEACH, CA,
        92660, 9497606832 - 900,000 ($80,010.00) Equity, (File 333-117189 -
        Jul. 7) (BR. 09)

S-8     DESIGN WITHIN REACH INC, 283 4TH STREET, OAKLAND, CA, 94607,
        0 ($26,255,322.00) Equity, (File 333-117190 - Jul. 7) (BR. 02)

S-8     OHIO LEGACY CORP, 305 WEST LIBERTY STREET, WOOSTER, OH, 44691,
        3302620437 - 200,000 ($2,112,000.00) Equity, (File 333-117191 - Jul. 7)
        (BR. 07)

S-8     WORLDTEQ GROUP INTERNATIONAL INC, 30 WEST GUDE DRIVE, SUITE 470,
        ROCKVILLE, MD, 20850, 2404032000 - 4,000,000 ($600,000.00) Equity,
        (File 333-117192 - Jul. 7) (BR. 08)

S-8     INSITE VISION INC, 965 ATLANTIC AVE, --, ALAMEDA, CA, 94501,
        5108658800 - 1,586,123 ($1,062,702.41) Equity, (File 333-117193 -
        Jul. 7) (BR. 01)

F-1     51job, Inc., 21ST FLOOR, WEN XIN PLAZA, 755 WEI HAI ROAD, SHANGHAI, F4,
        200041, 8621-3201-4888 - 0 ($90,000,000.00) Equity, (File 333-117194 -
        Jul. 7) (BR. 08)

S-8     AVATECH SOLUTIONS INC, 11403 CRONHILL DRIVE, SUITE A, OWING MILLS, MD,
        21117, 4109026900 - 700,000 ($505,750.00) Equity, (File 333-117195 -
        Jul. 7) (BR. 03)

S-8     ENVIRONMENTAL REMEDIATION HOLDING CORP, 5444 WESTHEIMER SUITE 1570,
        HOUSTON, TX, 77056, 5018212222 - 0 ($28,500.00) Equity,
        (File 333-117196 - Jul. 7) (BR. 04)

SB-2    SYNDICATION NET COM INC, 1250 24TH STREET NW, SUITE 300, WASHINGTON,
        DC, 20037, 2024672788 - 0 ($14,985,000.00) Equity, (File 333-117197 -
        Jul. 7) (BR. 08)

S-3     MEDTOX SCIENTIFIC INC, 402 WEST COUNTY ROAD D, ST PAUL, MN, 55112,
        6126367466 - 947,156 ($9,850,423.00) Equity, (File 333-117198 - Jul. 7)
        (BR. 01)

S-8     MEDTOX SCIENTIFIC INC, 402 WEST COUNTY ROAD D, ST PAUL, MN, 55112,
        6126367466 - 920,557 ($6,038,854.00) Equity, (File 333-117199 - Jul. 7)
        (BR. 01)

S-8     ADVANCED NUTRACEUTICALS INC/TX, 106 SOUTH UNIVERSITY BLVD., UNIT 14,
        DENVER, CO, 80209, 303-722-4008 - 1,250,000 ($1,637,500.00) Equity,
        (File 333-117200 - Jul. 7) (BR. 01)

S-8     FNB CORP/FL/, F.N.B. CORPORATION, ONE F.N.B. BOULEVARD, HERMITAGE, PA,
        16148, 724-981-6000 - 0 ($701,589.00) Equity, (File 333-117201 -
        Jul. 7) (BR. 07)

S-8     APEX SILVER MINES LTD, CALEDONIAN HOUSE MARY STREET, GEORGETOWN BWI,
        GRAND CAYMAN ISLAND, 3038395060 - 0 ($34,640,000.00) Equity,
        (File 333-117202 - Jul. 7) (BR. 04)

SB-2    AETHLON MEDICAL INC, 7825 FAY AVENUE SUITE 200, LAJOLLA, CA, 92037,
        2129120930 - 11,549,048 ($7,160,409.68) Equity, (File 333-117203 -
        Jul. 7) (BR. 36)

S-3     APEX SILVER MINES LTD, CALEDONIAN HOUSE MARY STREET, GEORGETOWN BWI,
        GRAND CAYMAN ISLAND, 3038395060 - 0 ($200,000,000.00) Other,
        (File 333-117205 - Jul. 7) (BR. 04)

S-8     ARCHER DANIELS MIDLAND CO, 4666 FARIES PKWY, DECATUR, IL, 62526,
        2174244798 - 0 ($412,250,000.00) Equity, (File 333-117206 - Jul. 7)
        (BR. 04)

S-3     PG&E CORP, ONE MARKET SPEAR TOWER, SUITE 2400, SAN FRANCISCO, CA,
        94105, 4152677000 - 1,204,878 ($33,929,364.48) Equity,
        (File 333-117207 - Jul. 7) (BR. 02)

F-3     PRUDENTIAL PLC, LAURENCE POUNTNEY HILL, LONDON ENGLAND, X0, EC4R OHH,
        011442075483737 - 0 ($2,000,000,000.00) Other, (File 333-117208 -
        Jul. 7) (BR. 01)

F-3     EDP ELECTRICIDADE DE PORTUGAL SA, PRACA MARQUES DE POMBAL,12, LISBON,
        S1, 1250-162, 351 21 720 2824 - 0 ($2,000,000,000.00) Equity,
        (File 333-117209 - Jul. 7) (BR. 02)

S-1     GOLFSMITH INTERNATIONAL INC, 0 ($7,250,000.00) Non-Convertible Debt,
        (File 333-117210 - Jul. 7) (BR. )

S-8     LIFE TIME FITNESS INC, 6442 CITY WEST PARKWAY, STE 300, EDEN PRAIRIE,
        MN, 55344, 0 ($15,250,472.00) Equity, (File 333-117211 - Jul. 7)
        (BR. 05)

S-8     AMERICAN FIRE RETARDANT CORP, 9337 BOND AVENUE, 806-479-0449, EL CAJON,
        CA, 92012, 619-390-68 - 1,000,000,000 ($1,200,000.00) Equity,
        (File 333-117212 - Jul. 7) (BR. 06)

F-1     TOP TANKERS INC., 109-111 MESSOGIAN AVENUE, POLITIA CENTRE,, ATHENS,
        J3, 11526 GR, 011-30-210-69-30-288 - 0 ($229,987,500.00) Equity,
        (File 333-117213 - Jul. 7) (BR. )

S-1     NEENAH FOUNDRY CO, 2121 BROOKS AVE, PO BOX 729, NEENAH, WI, 54927,
        9207257000 - 0 ($24,119,679.00) Non-Convertible Debt,
        (File 333-117214 - Jul. 7) (BR. 06)

S-4     AMERICAN ROCK SALT CO LLC, 3846 RETSOF RD, RETSOF, NY, 14539,
        0 ($100,000,000.00) Other, (File 333-117215 - Jul. 7) (BR. )


RECENT 8K FILINGS


Form 8-K is used by companies to file current reports on the following events:

    Item 1.    Changes in Control of Registrant.
    Item 2.    Acquisition or Disposition of Assets.
    Item 3.    Bankruptcy or Receivership.
    Item 4.    Changes in Registrant's Certifying Accountant.
    Item 5.    Other Materially Important Events.
    Item 6.    Resignations of Registrant's Directors.
    Item 7.    Financial Statements and Exhibits.
    Item 8.    Change in Fiscal Year.
    Item 9.    Regulation FD Disclosure.
    Item 10.   Amendments to the Registrant's Code of Ethics,
               or Waiver of a Provision of the Code of Ethics.
    Item 11.   Temporary Suspension of Trading Under
               Registrant's Employee Benefit Plans.
    Item 12.   Results of Operations and Financial Condition.

The  following companies have filed 8-K reports for the date indicated and/or
amendments to 8-K reports previously filed, responding to the item(s) of  the
form  specified.  8-K reports may be obtained in person or by writing to  the
Commission's  Public Reference Branch at 450 Fifth Street, N.W.,  Washington,
D.C. 20549 or at the following e-mail box address:  <publicinfo@sec.gov>.  In
most  cases, this information is also available on the Commission's  website:
<www.sec.gov>.




                                       STATE     8K ITEM NO.
NAME OF ISSUER                         CODE   1 2 3 4 5 6 7 8 9 10 11 12 13     DATE     COMMENT
------------------------------------------------------------------------------------------------
10CHARGE INC                            DE                X                  12/24/03    AMEND

ABRAXAS PETROLEUM CORP                  NV                    X              07/07/04

ACCENTURE LTD                                                         X      07/07/04

ACCENTURE SCA                                                         X      07/07/04

ACCESS ANYTIME BANCORP INC              DE            X                      07/07/04

ACUSPHERE INC                           DE            X   X                  07/07/04

AEGIS ASSET BACKED SECURITIES CORP      DE            X   X                  07/02/04

AEROPOSTALE INC                                           X   X              07/07/04

AGCO CORP /DE                           DE            X   X                  07/07/04

AJAY SPORTS INC                         DE            X                      06/30/04

AK STEEL HOLDING CORP                   DE                X           X      07/06/04

ALIGN TECHNOLOGY INC                    DE            X   X                  07/02/04

ALLEGIANCE TELECOM INC                  DE                X   X              06/23/04

ALLIED HEALTHCARE INTERNATIONAL INC     NY            X   X                  07/07/04

AMERICANA GOLD & DIAMOND HOLDINGS INC   CO      X         X                  07/01/04

AMERIQUEST MORTGAGE SECURITIES INC      DE                X                  06/30/04

AMPHENOL CORP /DE/                      DE                X   X              07/07/04

AMTECH SYSTEMS INC                      AZ            X   X                  07/07/04

ANWORTH MORTGAGE ASSET CORP             MD                X           X      07/06/04

APPLEBEES INTERNATIONAL INC             DE            X       X              07/06/04

APPLEBEES INTERNATIONAL INC             DE                    X              07/07/04

ASANTE TECHNOLOGIES INC                 DE            X   X                  07/06/04

ASHFORD HOSPITALITY TRUST INC           MD                    X              07/07/04

ASHWORTH INC                            DE            X   X                  07/06/04

ASHWORTH INC                            DE            X   X                  07/07/04

ASSET BACKED SECURITIES CORP            DE            X                      07/07/04

ASTEC INDUSTRIES INC                    TN            X   X                  07/07/04    AMEND

ATMOS ENERGY CORP                       TX            X   X                  06/17/04

BAM ENTERTAINMENT INC                           X         X                  06/22/04

BELDEN & BLAKE CORP /OH/                OH    X X         X                  07/07/04

BENIHANA INC                            DE            X                      07/07/04

BIOTIME INC                             CA            X                      06/28/04

BMC SOFTWARE INC                        DE                X           X      07/07/04

BORDEN CHEMICAL  INC                    NJ        X                          07/07/04

BROWN TOM INC /DE                       DE                X   X              06/30/04

CACI INTERNATIONAL INC /DE/             DE            X                      07/07/04

CACI INTERNATIONAL INC /DE/             DE            X                      07/07/04

CAP ROCK ENERGY CORP                                  X                      07/07/04

CAPITAL BANCORP INC                     TN            X   X   X       X      07/07/04

CATTLESALE CO                           DE            X                      07/07/04

CELLEGY PHARMACEUTICALS INC             CA            X   X                  07/06/04

CHENIERE ENERGY INC                     DE            X   X                  07/06/04

CHIPPAC INC                             CA            X   X                  07/07/04

CITIGROUP MORTGAGE LOAN TRUST SERIES                  X   X                  06/25/04

COINSTAR INC                            DE      X         X                  07/07/04

COMMERCE ENERGY GROUP INC               DE            X   X                  07/06/04

CONTINENTAL AIRLINES INC /DE/           DE                X                  06/29/04

CORRECTIONAL PROPERTIES TRUST           MD            X   X                  07/07/04

COTELLIGENT INC                         DE            X                      06/22/04

CRIIMI MAE INC                          MD            X   X                  06/30/04

CRYO CELL INTERNATIONAL INC             DE                X           X      07/06/04

CTI INDUSTRIES CORP                     DE            X   X                  07/01/04

CYBERGUARD CORP                         FL                X                  07/07/04    AMEND

DAN RIVER INC /GA/                      GA            X   X                  07/06/04

DEARBORN BANCORP INC /MI/               MI            X   X                  05/18/04

DELTA FINANCIAL CORP                    DE                            X      07/07/04

DENNYS CORP                             DE            X   X                  07/06/04

DIAMOND ENTERTAINMENT CORP              NJ                X   X       X      07/06/04

DIAMOND OFFSHORE DRILLING INC           DE                X   X              07/07/04

DIVIDEND CAPITAL TRUST INC              MD      X         X                  06/22/04

DONINI INC                              NJ            X   X                  06/30/04

DONINI INC                              NJ            X   X                  06/30/04    AMEND

DYNA CAM                                              X                      07/01/04

ENDO PHARMACEUTICALS HOLDINGS INC       DE            X   X                  07/07/04

ENERGY CONVERSION DEVICES INC           DE            X                      07/07/04

ENVIRONMENTAL ELEMENTS CORP             DE                X           X      07/07/04

EXPERIENTIAL AGENCY INC                 NV            X   X                  07/01/04

EYE CARE INTERNATIONAL INC              DE                    X              07/07/04

FANSTEEL INC                            DE            X                      06/29/04

FILENET CORP                            DE                            X      07/06/04

FLUSHING FINANCIAL CORP                 DE                    X              07/07/04

FNB FINANCIAL SERVICES CORP             NC          X     X                  06/30/04

FOOTSTAR INC                            DE            X   X                  07/01/04

GALAXY CHAMPIONSHIP WRESTLING INC       NV            X X X                  05/04/04

GB HOLDINGS INC                         DE            X   X                  07/07/04

GENENTECH INC                           DE            X   X                  07/07/04

GENERAL ELECTRIC CO                     NY          X                        07/07/04

GLOBECOMM SYSTEMS INC                                 X                      07/07/04

GMACM HOME EQUITY LOAN TRUST 2004-HE3   DE            X   X                  07/07/04

GOLDEN EAGLE INTERNATIONAL INC          CO                X           X      06/28/04

GOLDEN STAR RESOURCES LTD                                 X                  07/07/04

GRANT VENTURES INC                      NV            X   X                  07/06/04

GREENMAN TECHNOLOGIES INC               DE      X         X                  06/30/04

GS MORTGAGE SECURITIES CORP             DE            X   X                  06/15/04

HANCOCK JOHN LIFE INSURANCE CO          MA            X   X                  07/02/04

HARRIS & HARRIS GROUP INC /NY/          NY            X                      06/30/04

HOLLINGER INTERNATIONAL INC             DE            X                      06/17/04

HORIZON OFFSHORE INC                    DE            X   X                  07/06/04

HOST MARRIOTT CORP/                     MD            X   X                  07/02/04

IKON OFFICE SOLUTIONS INC               OH            X   X                  06/30/04

IMATION CORP                            DE                    X              07/07/04

INDEPENDENT BANK CORP /MI/              MI                    X              07/01/04

IndyMac INDX Mortgage Loan Trust 2004                 X   X                  06/04/04

INHIBITEX INC                                         X                      06/30/04

INNOVEX INC                             MN            X   X                  07/06/04

INTEGRATED PERFORMANCE SYSTEMS INC      NY          X     X                  06/18/04    AMEND

INTERLAND INC /MN/                      MN                X   X       X      07/07/04

INTERNATIONAL SPEEDWAY CORP             FL                    X       X      07/07/04

INTERNET BUSINESS INTERNATIONAL INC     NV            X   X                  07/06/04

INVESTMENT TECHNOLOGY GROUP INC         DE            X                      07/07/04

IVI COMMUNICATIONS INC                  NV          X     X                  04/02/04

J P MORGAN ACCEPTANCE CORP I            DE            X   X                  07/07/04

JCM PARTNERS LLC                        DE            X   X                  06/22/04

JONES APPAREL GROUP INC                 PA            X   X                  07/07/04

JOURNAL REGISTER CO                     DE            X   X                  07/02/04

K FED BANCORP                                         X   X                  07/01/04

KEY ENERGY SERVICES INC                 MD            X   X                  07/06/04

KNIGHT TRADING GROUP INC                DE                X   X              07/07/04

KNIGHT TRADING GROUP INC                DE                    X       X      07/07/04

KVH INDUSTRIES INC \DE\                 DE                            X      07/06/04

LAKES ENTERTAINMENT INC                 MN                X   X              07/06/04

MAJOR AUTOMOTIVE COMPANIES INC          NV            X   X                  07/06/04

MAN SANG HOLDINGS INC                   NV          X                        06/30/04

MAN SANG HOLDINGS INC                   NV          X                        06/30/04

MARATHON OIL CORP                       DE                X           X      07/07/04

MARCONI CORP PLC                        X0            X                      07/07/04

MATTHEWS INTERNATIONAL CORP             PA                    X              07/06/04

MAXWELL SHOE CO INC                     DE    X                              07/07/04

MAXXZONE COM INC                                    X   X X                  06/14/04

MB FINANCIAL INC     /MD                MD          X                        06/29/04

MDC HOLDINGS INC                        DE                X   X       X      07/06/04

MERITAGE CORP                           MD                X   X       X      07/06/04

MERRILL LYNCH MORTGAGE INVESTORS INC    DE            X   X                  07/07/04

MICHAELS STORES INC                     DE            X   X                  06/17/04

MICROMUSE INC                           DE                X           X      07/06/04

MIRAVANT MEDICAL TECHNOLOGIES           DE            X                      07/06/04

MOD PAC CORP                            NY            X                      07/04/04

MONACO GROUP INC                        DE            X                      07/02/04

Morgan Stanley Mortgage Loan Trust 20   DE            X   X                  06/25/04

MOUNTAIN OIL INC                        UT    X X     X                      06/30/04

MPSI SYSTEMS INC                        DE            X   X                  06/29/04

MS STRUCTURED SATURNS SERIES 2001-6     DE                X                  06/30/04

MS STRUCTURED SATURNS SERIES 2002-1     DE                X                  07/01/04

MS STRUCTURED SATURNS SERIES 2003-3     DE                X                  07/01/04

MSC INDUSTRIAL DIRECT CO INC            NY                X           X      07/07/04

NATIONAL DENTEX CORP /MA/               MA                    X              06/30/04

NELNET EDUCATION LOAN FUNDING INC       NE            X                      07/02/04

NETWORK ENGINES INC                     DE                    X              07/01/04

NEW CENTURY FINANCIAL CORP              DE            X   X                  05/21/04    AMEND

NORTHWEST BANCORP INC                   PA            X   X                  07/07/04

NUANCE COMMUNICATIONS                   CA            X                      06/30/04

NVE CORP /NEW/                          MN                    X              07/07/04

ONEIDA LTD                              NY            X   X                  07/07/04

P F CHANGS CHINA BISTRO INC                               X           X      06/30/04

PACIFIC FINANCIAL CORP                  WA                    X              07/06/04

PACIFIC TECHNOLOGY INC                  DE            X   X                  07/06/04

PAINCARE HOLDINGS INC                   CT            X   X                  06/30/04

PAINCARE HOLDINGS INC                   CT                X   X              07/06/04

PANGEA PETROLEUM CORP                   CO            X                      07/02/03

PEOPLES FINANCIAL CORP /MS/             MS            X   X                  07/06/04

PEOPLES FINANCIAL SERVICES CORP/        PA            X                      07/07/04

PEOPLESOFT INC                          DE                            X      07/07/04

PLURISTEM LIFE SYSTEMS INC              NV            X                      05/17/04

POTLATCH CORP                           DE            X                      06/29/04

PRIMEDIA INC                            DE            X   X                  07/07/04

PRO DEX INC                             CO                X           X      07/07/04

PROGRESS ENERGY INC                     NC            X       X              07/07/04

PROSOFTTRAINING COM                     NV            X   X                  07/02/04

RADVIEW SOFTWARE LTD                                  X   X                  07/07/04

RAM VENTURE HOLDINGS CORP               FL      X   X X   X X                04/23/04    AMEND

REDWOOD EMPIRE BANCORP                  CA            X   X                  07/07/04

RENAISSANCE CAPITAL GROWTH & INCOME F   TX            X                      07/06/04

REPUBLIC FIRST BANCORP INC              PA            X                      07/07/04

REYNOLDS & REYNOLDS CO                  OH            X                      07/07/04

RICHARDSON ELECTRONICS LTD/DE           DE                    X              07/07/04

ROSS SYSTEMS INC/CA                     DE                    X              05/05/04    AMEND

SELIGMAN NEW TECHNOLOGIES FUND INC                            X              07/07/04

SEMITOOL INC                            MT                X           X      07/07/04

SEMTECH CORP                            DE            X                      07/07/04

SEQUOIA RESIDENTIAL FUNDING INC                       X   X                  06/21/04

SEQUOIA RESIDENTIAL FUNDING INC                       X   X                  06/21/04

SEQUOIA RESIDENTIAL FUNDING INC                       X   X                  06/21/04

SEQUOIA RESIDENTIAL FUNDING INC                       X   X                  06/21/04

SEQUOIA RESIDENTIAL FUNDING INC                       X   X                  06/21/04

SEQUOIA RESIDENTIAL FUNDING INC                       X   X                  06/21/04

SIEBEL SYSTEMS INC                      DE                            X      07/07/04

SLM FUNDING LLC                         DE            X   X                  06/30/04

SPEEDWAY MOTORSPORTS INC                DE            X   X                  07/07/04

SRS LABS INC                            DE            X   X                  06/30/04

SRS LABS INC                            DE            X   X                  07/07/04

SWANK, INC.                             DE      X     X   X                  06/30/04

TECO ENERGY INC                         FL            X   X                  07/07/04

TELEFLEX INC                            DE            X   X                  06/30/04

TEMECULA VALLEY BANCORP INC             DE                X                  07/07/04

TIDEL TECHNOLOGIES INC                  DE            X   X                  07/06/04

TVE CORP                                DE    X                              06/30/04

TXU CORP /TX/                           TX            X                      06/30/04

U S PHYSICAL THERAPY INC /NV            NV            X                      07/07/04

ULTRALIFE BATTERIES INC                 DE                X   X              07/07/04

UNIMARK GROUP INC                       TX              X X                  07/06/04

UNION BANKSHARES CORP                   VA                X   X              07/02/04

UNIONBANCAL CORP                        CA            X   X                  07/01/04

UNITY BANCORP INC /DE/                  DE            X   X                  06/24/04

US AIRWAYS GROUP INC                    DE            X   X                  07/07/04

USF CORP                                DE                    X              07/07/04

USURF AMERICA INC                       NV      X         X                  04/20/04    AMEND

VETERINARY PET SERVICES INC                           X                      07/06/04

VICURON PHARMACEUTICALS INC             DE            X                      07/01/04

VISUAL NETWORKS INC                     DE                X   X              07/06/04

VOIP  INC                                       X         X   X              06/25/04

VOIP  INC                                             X   X                  07/07/04

VSOURCE INC                             DE                X   X              07/06/04

WACHOVIA COMMERCIAL MORTGAGE SECURITI   NC            X   X                  07/07/04

WEIGHT LOSS FOREVER INTERNATIONAL INC   NV            X                      06/25/04

WELLS FARGO ASSET SEC CORP MORT PAS T   DE            X   X                  11/25/03

WELLS FARGO ASSET SECURITIES CORP BAC   DE            X   X                  03/15/04

WELLS REAL ESTATE INVESTMENT TRUST II   MD      X         X   X              06/23/04

WELLS REAL ESTATE INVESTMENT TRUST IN   DE                    X              07/07/04

WILLIAM LYON HOMES                      DE                X           X      07/07/04

WILLIAMS COMPANIES INC                  DE                X   X              07/06/04

WILSHIRE OIL CO OF TEXAS                DE          X     X                  07/05/04

WORLD AIRWAYS INC /DE/                  DE            X   X                  07/07/04

YAHOO INC                               DE                X           X      07/07/04

ZONAGEN INC                             DE            X   X                  07/06/04