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
Document Reference:
33-9107
Document Details
Legal Case Name
In the Matter of State Street Bank and Trust Company
Document Name
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
Document Date
04-Feb-2010
Document Format
Administrative Proceeding
Allegation Type
Securities Offering
Document Summary
On February 4, 2010, the SEC instituted settle cease-and-desist proceedings against State Street Bank and Trust Company. According to the SEC: "During the subprime mortgage crisis in 2007, State Street engaged in a course of business that mislead investors about the extent of subprime mortgage-backed securities held in certain unregistered funds under its management. As a result of State Street's conduct, investors in State Street's funds lost hundreds of millions of dollars during the subprime meltdown in mid-2007."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
