Defendant Name: State Street Global Markets, LLC

Defendant Type: Subsidiary of Public Company

Document Reference: 2017-159_3-18159

Document 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
Document Name State Street Paying Penalties to Settle Fraud Charges and Disclosure Failures
Document Date 07-Sep-2017
Document Format Administrative Proceeding
File Number 3-18159
Allegation Type Broker Dealer
Document Summary 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."

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."

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