A man in his 70's from Addlestone has been arrested on suspicion of attempted sexual assault and attempting to take a child.
It is the second arrest in connection with a number of offences in Walton where a woman and a girl were touched inappropriately on 1 September.
The three incidents occurred in an area between the riverside and the Terrace Road area between 5pm and 6.30pm. Officers believe they may be linked.
The 70-year-old has been released on police bail, pending further investigation, until 21 October 2014.
Previously, a man in his 80's from Walton-on-Thames was arrested in connection to these incidents. His bail has now been cancelled and no further action will be taken.
"As a result of our recent witness appeal and further enquiries another man has been arrested in connection with the incidents earlier this month" said Investigating officer Detective Constable Mike Cresswell, from North Surrey CID.
"However, the investigation still remains ongoing and I urge anyone who may have seen anything suspicious at around the time of the offences to contact police - any information could prove vital in bringing the man responsible to justice.”