SEC approves plan for lost money in Facebook IPO

March 25th, 20131:12 pm @

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Mon Mar 25, 2013 8:38am EDT

(Reuters) – Regulators approved on Monday a plan to compensate market makers who lost money in a botched Facebook Inc public offering on Nasdaq OMX Group Inc’s Nasdaq exchange.

The decision from the Securities and Exchange Commission was in response to a series of high-profile glitches last year that shook the market, including the handling of Facebook’s long-anticipated initial public offering on May 18, 2012.

(Reporting by Jennifer Saba in New York; Editing by Gerald E. McCormick)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/9ZBAJQ1MWMI/story01.htm