Nasdaq OMX Group Inc. offered a $40 million fund to brokerages to help repay losses over money lost during Facebook's flawed initial public offering.
The exchange has admitted to a two-hour delay when many investors and brokers didn't know if trades were made or not. And several brokers said the $40 million wasn't enough to compensate for their losses.
The Securities and Exchange Commission is also investigating the matter, according to the Los Angeles Times. Regulators would also have to approve the $40 million voluntary payout, which includes $13.7 million in cash and the rest in trading discounts.
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