MORGAN Stanley has been fined $US5m ($F8.86m) by the Massachusetts securities regulator for "improperly influencing" analysts before Facebook's share sale. According to the regulator, there was a conflict of interest when a senior banker coached a Facebook official on what to say to analysts. It also claimed that the two firms failed to tell all investors that revenues may be lower than forecast.
Samsung drops case
Samsung has said it would drop its lawsuit seeking to ban the sale of some of Apple's products in Europe. The South Korean company said it wanted to compete "fairly in the marketplace, rather than in court" and "protect consumer choice". The two technology giants have been embroiled in a series of patent battles in Europe and the US.
Hong Kong has launched an investigation into "possible misconduct" by UBS in submissions for Hong Kong's inter-bank lending rate. It comes a day after UBS agreed to pay $US1.5bn ($F2.66b) to US, UK and Swiss regulators for trying to rig Libor. Libor tracks the average rate at which major banks based in London lend money to each other.