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Securities

June 27, 1996|Times Staff and Wire Reports

SEC OKs Stock Sales on Internet: In a move considered likely to boost the buying and selling of stock over the Internet, the Securities and Exchange Commission has given its first approval of an electronic "bulletin board" for investors wishing to trade in a company's shares. The SEC said it will allow Real Goods Trading Corp., a seller of energy and conservation products based in Ukiah, Calif., to match up buyers and sellers of its shares by releasing their names, addresses and details of their desired trades over the Internet, and also by telephone and fax. Investors would then contact each other and handle the trades themselves, without having to register with the SEC. SEC officials did not respond to a request for comment on the decision, which came in the form of a "no-action" letter to Real Goods. The letter exempted participants in the bulletin board from having to register as brokers or dealers. Brian Borders, president of the Assn. of Publicly Traded Companies, a trade group, called the SEC's decision "a real good sign" that will encourage other companies to begin matching up investors in their shares.

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