BOSTON (Reuters) - Massachusetts' top securities regulator said on Friday that his office is looking into whether top Wall Street investment banks in addition to Citigroup have leaked research in violation of state law on how to share this kind of information.
"We are looking at all of them, Morgan Stanley, Goldman Sachs, JPMorgan," regulator William Galvin said in a telephone interview about the probe. "It is a very active investigation," Galvin said, declining to give more information about what kind of charges may be made.
Earlier on Friday, Galvin's office said it has won a $2 million settlement with Citigroup after two of its analysts doled out information about top technology companies to a small number of journalists. Citi fired Mark Mahaney, the senior analyst in the case, and an unnamed junior analyst in the wake of the Massachusetts probe.
Galvin's office said Citi's junior analyst passed on some of the bank's confidential financial forecasts about Facebook while the senior analyst passed on confidential information about Google unit YouTube. Galvin said the Citi case was concluded first because his investigators were able to find emails to prove the information was discussed improperly.
http://finance.yahoo.com/news/exclusive-massachusetts-regulator-eyes-other-093037879.html
"We are looking at all of them, Morgan Stanley, Goldman Sachs, JPMorgan," regulator William Galvin said in a telephone interview about the probe. "It is a very active investigation," Galvin said, declining to give more information about what kind of charges may be made.
Earlier on Friday, Galvin's office said it has won a $2 million settlement with Citigroup after two of its analysts doled out information about top technology companies to a small number of journalists. Citi fired Mark Mahaney, the senior analyst in the case, and an unnamed junior analyst in the wake of the Massachusetts probe.
Galvin's office said Citi's junior analyst passed on some of the bank's confidential financial forecasts about Facebook while the senior analyst passed on confidential information about Google unit YouTube. Galvin said the Citi case was concluded first because his investigators were able to find emails to prove the information was discussed improperly.
http://finance.yahoo.com/news/exclusive-massachusetts-regulator-eyes-other-093037879.html