Regulators approved on Monday a plan to compensate market makers who lost money in a botched Facebook Inc public offering on Nasdaq OMX Group Inc's Nasdaq exchange.

The decision from the Securities and Exchange Commission was in response to a series of high-profile glitches last year that shook the market, including the handling of Facebook's long-anticipated initial public offering on May 18, 2012.

(Reporting by Jennifer Saba in New York; Editing by Gerald E. McCormick)