Ex-Citigroup Analyst Defeats FINRA Charges Over Tips

Law360, New York (August 18, 2017, 3:38 PM EDT) -- A panel of Financial Industry Regulatory Authority officers has dismissed allegations a former Citigroup research analyst improperly passed on info concerning Medtronic Inc.'s merger with Covidien PLC, ruling there was no evidence the analyst gave out material non-public information.

FINRA's Department of Enforcement had alleged former Citigroup Global Markets Inc. equity research analyst Matthew J. Dodds selectively disclosed material nonpublic information to Citadel analyst Nicholas Nohling in October 2014 that Medtronic was about to announce it would continue a planned merger with Covidien that had been thrown into question by proposed regulations.

But a panel in the self-regulatory organization's Office of...

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