On the day Facebook went public, Nasdaq’s CEO Bob Greifeld was cut off from all communication as delays and glitches hampered trading. On May 18, Greifeld was in Menlo Park, Calif., with Facebook CEO Mark Zuckerberg during the opening bell ceremony. Shortly after the bell, an influx of order cancellations jammed the system and delayed trading. Greifeld thought he’d be more useful in New York and headed to the airport. Greifeld said his armrest phone on the flight wasn’t working and there was no Internet access during the five-hour flight. Sources have said that SEC officials plan on going through Nasdaq executive phone calls and emails from the Facebook IPO.
The groups are working to get the Secure Act out of neutral.
The companies say a distributed ledger system could be useful in reinsurance.
The publicly traded China Oceanwide unit says it needed cash partly because of the state of the economy.
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