Morgan Stanley fined $5 million over sales of 83 IPOs

(Reuters) - A U.S. regulator fined a Morgan Stanley wealth management unit $5 million on Tuesday for supervisory failures related to the sale of shares in 83 initial public offerings, including Facebook Inc and Yelp Inc , to retail customers.

The Financial Industry Regulatory Authority said Morgan Stanley Smith Barney LLC lacked adequate procedures and training from Feb. 16, 2012 to May 1, 2013 to ensure that sales staff distinguished between "indications of interest" and "conditional offers" when soliciting potential investors.

Morgan Stanley neither admitted nor denied the charges.

(Reporting by Jonathan Stempel in New York; Editing by Jeffrey Benkoe)