NEW YORK -- Securities regulators are amping up their interest in Facebook's lackluster initial public offering.
Morgan Stanley may have shared an analyst's negative reports with some institutional investors but not others ahead of the social networking firm's high-profile IPO last week, according to news reports.
"If true, the allegations are a matter of regulatory concern to FINRA and the SEC," Rick Ketchum, chairman and chief executive officer of the Financial Industry Regulatory Authority, said in an emailed statement. FINRA is the securities industry's self-regulatory body.
In Washington, SEC Chairwoman Mary Schapiro told reporters the agency needed to examine issues raised by Facebook's IPO as well was a a recent $2-billion trading loss at JPMorgan Chase & Co.