Nasdaq is in early talks to settle with the SEC around its mismanagement of Facebook’s $16 billion IPO and the associated $500 million in investor losses last May, reports The Wall Street Journal. Details of the proposed settlement are still under wraps, but a fine of about $5 million is reportedly under consideration. The eight-month-long investigation stems from computer problems at the exchange that made it unable to send order confirmations, leaving investors unclear about the investment positions they held in the company.

Proposing cash payments to those affected, provided they waive their right to sue

If the agency fines Nasdaq, it will only be the second time in history it has fined a stock exchange; the first happened in 2012. The settlement would be separate from a proposed class-action case, whose plaintiffs are claiming $7.1 million in damages. The Journal points out that Nasdaq executives have insisted that the company has no obligation to compensate investors for losses originating from Facebook’s IPO, but the exchange is reportedly proposing cash payments to those affected, provided they waive their right to sue.