Citi fined $30 mn for tip-off to big clients | Bangkok Post: news

News > World

Citi fined $30 mn for tip-off to big clients

- +

Massachusetts on Thursday fined Citigroup $30 million for improperly releasing market-sensitive information on an Apple supplier to large clients including hedge fund SAC Capital Advisors. 

Massachusetts on Thursday fined Citigroup $30 million for improperly releasing market-sensitive information on an Apple supplier to large clients including hedge fund SAC Capital Advisors

In December 2012 Taiwan-based Citigroup Global Markets analyst Kevin Chang divulged to a handful of clients a lowered production forecast for Apple iPhones and iPads made by supplier Hon Hai a day before the research was published, the state said.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments