Page 109 


State Street to pay $382.4m to settle SEC claims

SEC Building

The Securities and Exchange Commission has announced that State Street Bank and Trust Company has agreed to pay $382.4m in a global settlement for misleading mutual funds and other custody clients by applying hidden markups to foreign currency exchange trades.



Deutsche Bank

Deutsche is proof that bank regulators have just been hoping for the best

Can the crisis be over at Deutsche Bank? The immediate storm will pass if the US Department of Justice has dropped its demand for $14bn (£10.8bn) to cover mis-sold mortgage securities and is instead close to settling for a much lower sum. That outcome will calm market nerves and provide a vindication of sorts for John Cryan, the beleaguered bank’s chief executive, who always insisted that $14bn wouldn’t be the final figure.