Defendant Name:
State Street Bank and Trust Company
Defendant Type:
Subsidiary of Public Company
Document Reference:
2019-114
Document Details
Legal Case Name
In the Matter of State Street Bank and Trust Company
Document Name
State Street Settles SEC Charges for Adding Undisclosed Markups on Client Expenses
Document Date
27-Jun-2019
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
The Commission stated: "The Securities and Exchange Commission today announced that State Street Bank and Trust Company has agreed to pay over $88 million to settle charges for overcharging mutual funds and other registered investment company clients for expenses related to the firm's custody of client assets."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Disgorgement
(Penalty was noted in document, but no amount was listed)
Civil Penalty
Individual:
$40,000,000.00
Shared:
Pre-Judgment Interest
(Penalty was noted in document, but no amount was listed)
Total Penalty
Individual:
$88,000,000.00
Shared:
