Defendant Name: State Street Bank and Trust Company

Defendant Type: Subsidiary of Public Company
Public Company Parent: State Street Corporation
SIC Code: 6022
CUSIP: 85747710

Initial Case Details

Legal Case Name In the Matter of State Street Bank and Trust Company
First Document Date 07-Sep-2017
Initial Filing Format Administrative Action
File Number 3-18158
Allegation Type Other

Violations Alleged

Securities Act
• Sec 17(a)(2)

Resolutions

First Resolution Date 07-Sep-2017

Related Documents:

33-10410 07-Sep-2017 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing a Cease-and-Desist Order
According to the SEC: "During the period July 2010 through October 2010, State Street provided one GovEx subscriber ("Subscriber A") with a "Last Look" trading functionality ("Last Look") that gave this subscriber a short period of time in which to reject a match to a quote that it had submitted on GovEx. State Street displayed Subscriber A's quotes on GovEx without disclosing to other subscribers that Subscriber A could use Last Look to reject matches on GovEx."
2017-159_3-18158 07-Sep-2017 Press Release--Administrative Proceeding
State Street Paying Penalties to Settle Fraud Charges and Disclosure Failures
The SEC announced in a press release on September 7, 2017 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."