Regulators may review bank's Facebook allegations, report says
The chairman of the Financial Industry Regulatory Authority told Reuters today that regulators plan to review the allegations that Facebook's own underwriter shared negative news with big investors in the run-up to the Facebook IPO last week. The SEC is also reportedly going to investigate.
News of a possible probe follows a Reuters report last night that said Morgan Stanley and Goldman Sachs each told major clients that it was reducing its revenue forecast for Facebook.
"The allegations, if true, are a matter of regulatory concern" to the Financial Industry Regulatory Authority and to the SEC, FINRA … Read more