Massachusetts will be regulating expert network firms, the first state in the nation to create rules as a result of the federal governments insider trading arrests. The new regulations will require state regstered investment advisers that pay expert network firms to get written certification that the firms are not subject to any confidentiality restrictions and will not provide confidential info. Traders looking for a trading edge have been using expert networks and other independent research firms for investment info. They charge as much as $70,000 for six months of consultations concerning any industry issue or company. Last month, hedge fund manager james Silverman was charged in Mass with using inside info on clinical trials to trade stocks. Silverman started the Cambridge based RRC Bio Fund LP and used Guidepoint Global LLC to obtain the info.