The Asian Banker

Robust supervision vital to ensure effective oversight of SROs
Nasdaq OMX agrees to $10m US SEC settlement for botched Facebook IPO, as the agency continues crackdown on errant stock exchanges.

Jun 03, 2013 | Magessan Raj

US Securities and Exchange Commission (SEC) charged Nasdaq OMX for a series of regulatory violations concerning Facebook’s initial public offering (IPO) earlier last week, with the latter agreeing to pay $10 million, the largest US SEC settlement with a stock exchange, to settle the agency’s charges. In striking the deal, the exchange stopped short of admitting allegations of wrongdoings, though the US SEC provided a recount of events, spelling out “a series of ill-fated decisions” that saw Nasdaq flagrantly flout securities law in its attempt to launch the botched IPO. According…

Please login to read the complete article. If you already have an account, you can login now or subscribe/register.

Categories: Exchanges, Markets & Exchanges, Risk & Compliance
Keywords: Nasdaq OMX, SEC, Facebook, George Canellos, CBOE, Robert Greifeld, Luis Aguilar, SRO
Add a new comment:

Allowed tags: <b><i><br>

Comments (0)

Show Less
White Papers
About us | Jobs and Internships with us | Contact us | Advertise with Us | | Privacy Policy | Copyrights Requests | Legal Notice | Feedback
RSS FeedRSS Feed | Follow us on Linkedin Twitter Facebook
Copyright 2014, The Asian Banker. All Rights Reserved .