SEC needs more time to review Nasdaq's Facebook proposal

10/30/2012 | Wall Street Journal, The

The Securities and Exchange Commission said on its website that it will take more time to decide whether to approve Nasdaq OMX Group's proposal regarding compensation for losses that companies sustained during Facebook's initial public offering. The SEC is reviewing "legal and policy issues" stemming from the proposal, which some major banks have said is inadequate.

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Wall Street Journal, The

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