Defendant Name: State Street Bank and Trust Company

Defendant Type: Subsidiary of Public Company

Document Reference: IC-32390-s

Document Details

Legal Case Name In the Matter of State Street Bank and Trust Company
Document Name SEC Finalizes Settlement with State Street For Misleading Clients About Prices for Foreign Currency Exchange Trades
Document Date 12-Dec-2016
Document Format Administrative Proceeding
File Number 3-17720
Allegation Type Investment Advisers/Investment Companies
Document Summary On December 12, 2016, SEC issued a settled administrative order against State Street Bank and Trust Company. According to the SEC, the Company provided its custody clients with "materially misleading statements describing its pricing for a method of foreign currency exchange ("FX") it offered known as Indirect FX", and "records of Indirect FX trades that, in light of these statements, both omitted material information and were misleading in light of the circumstances in which they were made."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order

Related Documents:

IC-32390 12-Dec-2016 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 9(b) and 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On December 12, 2016, SEC issued a settled administrative order against State Street Bank and Trust Company. According to the SEC, the Company provided its custody clients with "materially misleading statements describing its pricing for a method of foreign currency exchange ("FX") it offered known as Indirect FX", and "records of Indirect FX trades that, in light of these statements, both omitted material information and were misleading in light of the circumstances in which they were made."