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SEC Institutes Proceedings Against AOL Over Its Accounting Treatment of Advertising Costs LEAD STORY-DATELINE: The Wall Street Journal, May 16, 2000. America Online, Inc. (AOL) provides Internet access to millions of subscribers throughout the world. AOL is listed on the New York Stock Exchange (NYSE) and is registered with the Securities Exchange Commission (SEC) pursuant to the Securities Exchange Act of 1934. During its fiscal years ended June 30, 1995 and June 30, 1996, AOL undertook extensive advertising efforts to rapidly expand its customer base. These efforts included distribu