Citigroup fined $30 million after analyst sent report to SAC, others

BOSTON (Reuters) – Citigroup Inc was fined $30 million through Massachusetts' prime securities regulator after an analyst despatched unpublished and exclusive analysis about a expertise company to institutional shoppers, together with Steven A. Cohen hedge fund SAC Capital Advisors, officers stated on Thursday. William Galvin, Massachusetts' Secretary of the Commonwealth, said Citigroup analyst Kevin Chang sent analysis about Hon Hai Precision Trade Co, an immense supplier of Apple Inc iPhones, to SAC, T. Rowe Price, Fortress and GLG Partners. …