State Street

State Street is a leading financial services provider serving some of the world’s most sophisticated institutions. The company offers a flexible suite of services that spans the investment spectrum, including investment management, research and trading, and investment servicing.


State Street paying penalties to settle SEC charges

The Securities and Exchange Commission has announced that State Street has agreed to pay more than $35 million to settle charges that it fraudulently charged secret markups for transition management services and separately omitted material information about the operation of its platform for trading U.S. Treasury securities.

State Street to pay $64.6m, name monitor after fraud

Money On Hook

State Street agreed to pay $64.6 million and cooperate in the U.S. prosecution of former executives, while admitting it overcharged six clients in Europe, Africa and the Middle East. The Boston-based bank also agreed to appoint a compliance monitor.


The Greatest Trade Ever

The New York Post reports that John Paulson, the hedge fund manager who paid himself $3.7bn last year after that spectacular trade shorting the subprime market, lost some ground in July - although not much. The newspaper says that Paulson's six hedge funds fell about 3.7% over the month.

State Street to pay $382.4m to settle SEC claims

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.