The Financial Post reports in its Wednesday edition that hot tech companies and other start-ups will soon be permitted to raise money on the New York Stock Exchange without paying big underwriting fees to Wall Street banks. A Bloomberg dispatch to the Post says that the Securities and Exchange Commission announced Tuesday that it had approved the NYSE's plan to allow so-called primary direct-floor listings. The change marks a major departure from traditional IPOs, in which companies rely on investment banks to guide their share sales and stock is allocated to institutional investors the night before a listing. Instead, firms will be able to raise capital by selling shares directly on the exchange. The SEC's move follows months of wrangling, including a decision made earlier this year to halt consideration of the proposal at the request of the Council for Institutional Investors, a group that represents major pension funds and endowments. CII had argued that the plan eroded investor protections and might make if more difficult for shareholders to sue over material misstatements or omissions made during the IPO process. NYSE rejected those criticisms and disputed that the changes will increase risks to investors.