Bahrain's United Gulf Bank has said that charges against the bank related to a case of share manipulation by a Kuwaiti financier have been dropped by the US Securities and Exchange Commission, Reuters has reported. UGB, the investment banking arm of Kuwait Projects Co (Kipco), was involved in trades on the New York Stock Exchange by Raya's late chief executive Hazem al-Braikan, who was found dead in August 2009 after the charges against him became public. "(The SEC) has filed an amended complaint and sought an order from the court totally dismissing all charges against the bank in the case against the former CEO of the Al Raya Investment Co," UGB said in a statement.