These "regulators" claim to be based
in the United States and often target overseas investors.
Widmann said investors lose billions of dollars a year to securities fraud
and he warned, "There are probably many more fake regulators with websites and
shell offices like these.

NASAA is the oldest international organization devoted to investor
protection.
HLA Global, the world's largest network of
independent brokers , announced the restructured board of directors and new
management team of HLA Global (Guernsey) Limited today to serve as the
focal point of its network.

consulates overseas

The Internet is a big place, making it difficult to
police, and sometimes dangerous for investors."
To help investors determine if they are dealing with a bogus regulator,
NASAA issued the following warning signs:

Top 5 Signs That You Are Dealing with A Phantom Regulator

1. They endorse or approve any investment opportunity, stock, or company.

Network companies between them have a combined
annual revenue of circa US$1.3 billion and over 10,000 employees.

For more information about Acordia, visit www.C., Zakaria will probe the global questions
of the moment from not only an American perspective but through the eyes of
newsmakers and journalists from around the world.
"Foreign Exchange" will be produced by Azimuth Media in association with
Oregon Public Broadcasting.org ) and funded by The William and Flora Hewlett Foundation.promotion.opb.

operated by

S.

Contact information for state, territorial, and provincial regulators in
the United States, Canada and Mexico can be found at http://www.org.S.

"Expanding the HLA Global family to include these high quality, independent
brokers demonstrates that our network truly is a viable alternative to our
competitors' owned operations," said Frank Witthun, Chief Executive of HLA
Global.423." In addition to editing
Newsweek 's international editions, Zakaria pens a column that appears in both
Newsweek's U. Photos are available online at
http://www.

asia foreign

"Some of these websites may look very legitimate but all successful scams
do, at first.
If you can't find information about the "regulator" on the site of
the International Organization of Securities Commissions,
http://www.org, they probably are not a legitimate regulator. Members also enjoy the
support of other members' well established , market-leading specialist
brokering teams, and an opportunity to share in the profits of HLA Global . HLA
Global (Guernsey) Limited, is a joint venture between Acordia, Inc.
is the only bank in the United States to receive the highest possible
credit rating, "Aaa," from Moody's Investors Service .253

"
"Foreign Exchange" produced by Azimuth Media
(http://www.

consulates foreign

Con artists are trying to cash in on our
good name abroad to lure unsuspecting investors into risky penny stocks and
advance fee schemes," Widmann said. These websites offer nothing more than fancy window-dressing to
lure investors into buying worthless securities from unlicensed stockbrokers,"
Widmann said, adding that these brokers and offers are often "verified" by the
phony regulators. You cannot find references to them on any other regulatory websites.

2. This joint
venture between Wells Fargo's Acordia, Inc.

From over 250 locations in over 80 countries, HLA Global can provide
clients with local service and advice in more than 100 territories., with over 150 offices in 38 states. He is a regular member
of the roundtable of ABC News' "This Week with George Stephanopoulos" as well
as an analyst for ABC News.opb.

by consulates

Con Artists Posing as U. Each of these
entities had websites and listed addresses and telephone numbers in the United
States and none have any relation to real regulatory agencies or
organizations. David Zuercher, Executive Vice President and
Group Head of International, Correspondent Banking and Insurance Services
for Wells Fargo will serve as Chairman, with Paul Welling, Managing
Director of Heath Lambert Overseas Limited as Deputy Chairman . and the Heath Lambert Group has
instituted a number of changes to its structure, operation, and membership
to better manage its central decision making, ensure that all members are
given a voice , and make the entire operation more independent of its
individual members. "Combining HLA Global 's traditional strengths with the
professionalism, local market knowledge, influence and flexibility of
members with a financial interest in their own business provides our
clients an advantage of more local, uniform service and commitment.hlaglobal.S. Its 4,500 insurance professionals
place in excess of $6.A.

Newsweek's Fareed Zakaria to Launch Weekly Television Show for Public Television

azimuthmedia.org .

philippines regional

Legitimate regulators are not in the business of promoting any deal,
only enforcing securities laws and ensuring fair dealing. Having originally been established primarily as a
retail service network for multinational clients, HLA Global's expansion
into wholesale and reinsurance business offers all members direct access to
the major insurance markets and the opportunity to deliver a complete range
of insurance placement services to their clients., headquartered in Chicago , Ill.acordia. Produced by Azimuth Media in Association with Oregon Public Broadcasting,
'Foreign Exchange with Fareed Zakaria' to Premiere April 2005

NEW YORK, Debuting on public television stations
in April 2005, Newsweek International Editor and Columnist Fareed Zakaria will
host a weekly, half-hour international affairs series.S. and overseas editions (reaching a global audience of over 24
million), plus is syndicated in The Washington Post and newspapers around the
world. Zakaria came to Newsweek from Foreign Affairs,
where he was managing editor.
This is the first show to really delve into those connections and with Fareed
hosting, we expect it to be a great success.

websites government

They say that paying a fee to "release restricted shares" is anything
other than an attempt to steal your savings. Little or no information about the "regulator" appears in Internet
search engines.

For more information please visit www.

Acordia is a subsidiary of Wells Fargo & Company, a diversified financial
services company with $428 billion in assets, providing banking, insurance,
investments, mortgage and consumer finance to more than 23 million
customers from more than 6,000 stores and the internet (wellsfargo.com)
across North America and elsewhere internationally. "On 'Foreign Exchange,' we'll find out what the world is
doing and thinking, why they love and hate us, and how we can understand and
navigate a globe that often seems to be spinning in six different directions
all at once.
Described by Esquire magazine as "the most influential foreign policy
adviser of his generation," the magazine went on to name Zakaria, "one of the
21 most important people of the 21st century.

or government

Widmann warned that several fake "regulators" have been brought to the
attention of state securities regulators. securities markets are known around the world for being among
the safest and most fair, due in no small part to the rigorous and efficient
regulatory systems in place here.

5. (a Wells Fargo
company), Heath Lambert Group and carefully selected local brokers in all
of the world's main markets.com

Acordia and Wells Fargo

Acordia, Inc. Wells Fargo Bank, N.
Taping weekly in Washington, D. His spring 2003 book, "The Future of Freedom," was a New York Times
bestseller, and widely cited as a must-read by top officials in the White
House, the Pentagon and policymakers around the world. People want to understand what's going on in the world
and how the rest of the world views us because we all now know that what
happens abroad directly our lives, in terms of safety, economics and culture.org ) in association with Oregon Public Broadcasting
(http://www.

foreign government

S.

4. Its membership consists of the securities administrators in the 50
states, the District of Columbia, Puerto Rico, the U. Virgin Islands, the
provinces and territories of Canada, and Mexico.S."

The network will now welcome new partners in Argentina, Australia, Chile,
Colombia, Ecuador, India, Ireland, Italy, New Zealand , Peru, the
Philippines and Russia.

HLA Global

HLA Global is a partnership network between Acordia, Inc.foreignexchange.

or embassies

NASAA Warns Investors to Beware of Phantom Regulators

Regulators Go Global
to Lure Investors into Schemes

WASHINGTON, Want to check out a hot stock tip
before you invest? Make sure you aren't getting bad advice from con artists
posing as regulators, warns Franklin L. Widmann, Chief of the New Jersey
Securities Bureau, and President of the North American Securities
Administrators Association (NASAA). Any legitimate regulator should generate hundreds of
entries in any Internet search engine.nasaa., and
Heath Lambert Group .

Websites operated by Philippines Embassies or Consulates overseas.

or overseas

"The U.iosco.

3 . If you talk to other regulators, and they say they have "never heard of
them," you are most likely dealing with a fake regulator.

PRESS RELEASE New HLA Global Implements Network Changes to Compete With Major Brokers

, is the fifth largest
insurance brokerage and the largest bank-owned insurance brokerage in the
U.com or call
312." In addition to interviews, "Foreign Exchange" will feature
segments from the streets of the world's great cities, surprising facts about
the world we live in, and stories about remarkable Americans living abroad. "Feedback from
stations has been very enthusiastic and we expect to see stations picking it
up from coast to coast.
For more information, visit the series Web site at
http://www.tv .

overseas abroad

Widmann identified a number of phantom "regulators," including: the
Regulatory Compliance Commission, the International Regulatory Commission, the
International Compliance Commission, the International Shareholder Protection
Division and the International Exchange Regulatory Commission. This is a common ploy, and
a recent twist on age-old advance fee schemes . Most notable is the decision to increase the number of
new, independent members abroad and in the U.5 billion of risk premiums with expertise in
property, casualty, benefits, international, personal lines and life
products. Produced by Azimuth
Media in association with Oregon Public Broadcasting and distributed by
American Public Television (APT), "Foreign Exchange with Fareed Zakaria" has
received enthusiastic support from public television stations across the
country. "Since 9/11, Americans have
become far more interested in foreign affairs than in decades past," said
Newsweek's Zakaria.

"We're very excited about the show-it's the right
topic with the right host at the right time," said David Davis, Vice President
of National Productions for Oregon Public Broadcasting.