Nasdaq Moving to Resolve Facebook IPO Mishap Amid SEC Talks
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Nasdaq OMX Group Inc. is moving to put its role in Facebook Inc.’s botched public debut behind it as talks with federal regulators progress and the firm awaits a decision on a settlement with brokers.
The second-biggest U.S. exchange operator and Securities and Exchange Commission officials are examining Nasdaq Stock Market’s technology controls in discussions spurred by the botched initial public offering, according to a person with knowledge of the matter who asked not to be named because the talks are private. Nasdaq and the SEC are in preliminary negotiations toward a settlement that may include a $5 million fine, the Wall Street Journal reported yesterday.