Louise 

Here is the offending piece from the SFA.  As you will see, it is not a 
binding piece of regulation, but merely a non-binding "Discussion Paper".  In 
fact it is even less binding than "Consultation" documents (also non-binding) 
which SFA put out following the discussion phase.

It does, however, provide some insight into how the SFA might regulate 
systems in the future.

I get about one of these a day from SFA and must say I missed this one.  I 
will ask our external counsel (Linklaters) to watch out for any SFA 
publications which may be relevant to Enron Online going forward and to bring 
them to our attention.  I suggest Justin and Edmund also stress this to any 
other external English counsel who may be advising us on Online. 

Paul
---------------------- Forwarded by Paul Simons/LON/ECT on 25/07/2000 19:54 
---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  "Marsh, Jonathan" <jonathan.marsh@linklaters.com>                      
     25/07/2000 19:18
	

To: "Paul Simons (E-mail)" <Paul.Simons@enron.com>
cc:  

Subject: d02 (http://www.fsa.gov.uk/pubs/discussion/d02.pdf)


  Paul

I decided to email it after all.

Jonathan

 http://www.fsa.gov.uk/pubs/discussion/d02.pdf
 <<d02.url>>


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