Nasdaq to pay US$10m to settle SEC charges from Facebook snafu

Nasdaq OMX has agreed to pay US$10 million, the largest penalty ever levied against a stock exchange, to settle civil charges stemming from mistakes made during Facebook’s initial public offering last year, US securities regulators said on Wednesday.

In its administrative proceeding against the stock exchange operator, the US Securities and Exchange Commission said Nasdaq’s “ill-fated decisions” on the day of the IPO led to a series of regulatory violations.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1249645/nasdaq-pay-us10m-settle-sec-charges-facebook-snafu