Nasdaq’s Facebook Plan Comes Under Mounting Fire

August 23, 2012 at 10:59 am PT

UBS AG decried a proposal from Nasdaq OMX Group Inc. to make up losses for firms damaged in the Facebook Inc. stock-market debut, joining a growing chorus of Wall Street players that are calling on regulators to reject the exchange operator’s plan.

Nasdaq last month proposed a $62 million, all-cash compensation package that would be split up among afflicted firms — a plan that itself was modified after an outcry over the terms of the original $40 million proposal of cash and discounted trading fees. Estimates of Wall Street’s total losses in the Facebook debut on May 18 have been put at some $500 million.

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Tagged with: Facebook, initial public offering, IPO, Jacob Bunge, Nasdaq, The Wall Street Journal, UBS, Wall Street

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