SEC approves Nasdaq's Facebook IPO compensation plan

The Securities and Exchange Commission has approved Nasdaq OMX Group's plan to pay customers involved in Facebook's initial public offering a total of as much as $62 million. Brokers estimate that Nasdaq's missteps during the IPO cost Wall Street hundreds of millions of dollars. UBS has filed an arbitration demand against the exchange operator to be fully compensated for losses it estimates as exceeding $350 million.

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