The brokers will continue to provide on-line services to their customers. In early October, the S.E.C. said investors can receive prospectuses and financial reports on their computers via e-mail or Internet download. The new guidelines require companies to continue to offer printed documents to investors, to notify investors when information is available electronically, and get consent from those investors wishing to receive electronic filings. Investors must confirm receipt of the filing. New York-based Spring Street Brewing is the first company to post an Initial Public Offering prospectus on the World Wide Web.
Management hopes to sell shares directly to the public without an underwriter.
Stratton Oakmont, a Long Island securities firm, recently withdrew its libel suit against Prodigy, the on-line service, after receiving an apology. It held Prodigy responsible for derogatory comments about its underwritings posted on Prodigy's MoneyTalk bulletin board by an unknown subscriber. The Vancouver Stock Exchange is the first exchange in Canada to offer a home page on the World Wide Web. It provides VSE-listed company addresses, phone and fax numbers, stock prices and trade dates, along with information on how to list on the VSE, how to contact member firms and a list of VSE publications and reports. The information is updated daily.