Citigroup has been fined $30 million by the Commonwealth of Massachusetts in a settlement after a Citi analyst sent confidential research information to major clients without sharing it with the public, reports Reuters. The research, which included negative order forecasts for the iPhone, was shared with major Citi clients including SAC, T. Rowe Price, Citadel, and GLG partners -- but not with Citi's retail investors, putting them at a competitive disadvantage. "The emails between Kevin Chang and the hedge funds reveal this cozy culture which illustrates again that there are two types of customers; big ones and retail customers who often dont' receive this information," [Massachusetts Secretary of State William] Gal
