Defendant Name: State Street Global Markets, LLC

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 Global Markets, LLC, State Street Global Advisors Funds Distributors, LLC and State Street Bank and Trust Company
First Document Date 07-Sep-2017
Initial Filing Format Administrative Action
File Number 3-18159
Allegation Type Broker Dealer

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Sec 15(c)
Securities Act
• Sec 17(a)(1)
• Sec 17(a)(3)

Resolutions

First Resolution Date 07-Sep-2017
Headline Total Penalty and Disgorgement $32,300,000

Related Documents:

33-10411 07-Sep-2017 Administrative Proceeding
Order Instituting Administrative and Cease-and- Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933, and Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
According to the SEC: "Respondents carried out a scheme to defraud six transition management customers from February 2010 to September 2011, by charging those customers hidden and unauthorized mark- ups and commissions beyond the fees, mark-ups, or commissions that the customers had agreed to pay on trading in U.S. and European securities."
2017-159_3-18159 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."

Other Defendants in Action:

State Street Global Advisors Funds Distributors, LLC
State Street Bank and Trust Company

Related Actions:

SEC v. Ross I. McLellan
Ross I. McLellan
In the Matter of Ross McLellan
Ross I. McLellan