SEC approves plan for lost Facebook IPO money

Man walks past sign welcoming Facebook to the NASDAQ Marketsite in New York(Reuters) – Regulators on Monday approved a plan to compensate market makers who lost money in a botched Facebook Inc public offering in May on the Nasdaq exchange. Nasdaq, a unit of Nasdaq OMX Group Inc, has proposed a revised $ 62 million settlement to those brokerages that lost money. The decision from the U.S. 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. …

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