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Organization

State Street Bank and Trust Company

Custody bank in Boston and the principal banking subsidiary of State Street Corporation; it traces its beginnings to 1792.

8 links, 8 backed by primary records

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Place
Boston
Also known as
State Street Bank, State Street Bank and Trust
Legal records

SEC v. State Street Bank and Trust Company, No. 1:10-CV-10172

  1. 4 Feb 2010 Settled with U.S. Securities and Exchange Commission: misleading investors about their exposure to subprime investments; without admitting or denying the allegations 12A $50 million penalty, more than $8.3 million in disgorgement and prejudgment interest, and more than $255 million in additional payments to compensate investors.

In the Matter of State Street Bank and Trust Company, File No. 3-17055

  1. 14 Jan 2016 Settled with U.S. Securities and Exchange Commission: $12M, a pay-to-play scheme to win contracts to service Ohio pension funds; without admitting or denying the findings 34

In the Matter of State Street Bank and Trust Company, File No. 3-17720

  1. 26 Jul 2016 Settled with U.S. Securities and Exchange Commission: $167.4M, hidden markups on foreign currency exchange trades for custody clients; it admitted the facts in the order's Annex A 56Part of a $382.4 million settlement announced on 26 July 2016. The SEC's order is dated 12 December 2016.
  1. 26 Jul 2016 Settled with U.S. Department of Justice: $155M, allegations that it deceived custody clients about foreign currency exchange prices 7A civil penalty, in the same $382.4 million settlement.

In the Matter of State Street Global Markets, LLC, State Street Global Advisors Funds Distributors, LLC, and State Street Bank and Trust Company, File No. 3-18159

  1. 7 Sep 2017 Settled with U.S. Securities and Exchange Commission: $32.3M, fraud charges over hidden markups for transition management services 89With State Street Global Markets and State Street Global Advisors Funds Distributors.

In the Matter of State Street Bank and Trust Company, File No. 3-18158

  1. 7 Sep 2017 Settled with U.S. Securities and Exchange Commission: $3M, disclosure failures about its GovEx trading platform; without admitting or denying the findings 810

In the Matter of State Street Bank and Trust Company, File No. 3-19221

  1. 27 Jun 2019 Settled with U.S. Securities and Exchange Commission: $88.8M, overcharging mutual funds and other registered investment company clients for custody expenses; without admitting or denying the findings 1112A $40 million civil penalty and $48.78 million in disgorgement and prejudgment interest.

Connections 8

settled with

  • U.S. Securities and Exchange Commission 4 Feb 2010 misleading investors about their exposure to subprime investments; without admitting or denying the allegations Primary record 12

    A $50 million penalty, more than $8.3 million in disgorgement and prejudgment interest, and more than $255 million in additional payments to compensate investors.

  • U.S. Securities and Exchange Commission 14 Jan 2016 $12M, a pay-to-play scheme to win contracts to service Ohio pension funds; without admitting or denying the findings Primary record 34
  • U.S. Securities and Exchange Commission 26 Jul 2016 $167.4M, hidden markups on foreign currency exchange trades for custody clients; it admitted the facts in the order's Annex A Primary record 56

    Part of a $382.4 million settlement announced on 26 July 2016. The SEC's order is dated 12 December 2016.

  • U.S. Department of Justice 26 Jul 2016 $155M, allegations that it deceived custody clients about foreign currency exchange prices Primary record 7

    A civil penalty, in the same $382.4 million settlement.

  • U.S. Securities and Exchange Commission 7 Sep 2017 $32.3M, fraud charges over hidden markups for transition management services Primary record 89

    With State Street Global Markets and State Street Global Advisors Funds Distributors.

  • U.S. Securities and Exchange Commission 7 Sep 2017 $3M, disclosure failures about its GovEx trading platform; without admitting or denying the findings Primary record 810
  • U.S. Securities and Exchange Commission 27 Jun 2019 $88.8M, overcharging mutual funds and other registered investment company clients for custody expenses; without admitting or denying the findings Primary record 1112

    A $40 million civil penalty and $48.78 million in disgorgement and prejudgment interest.

part of

Timeline 7 dates
  1. 4 Feb 2010 State Street Bank and Trust Company settled with U.S. Securities and Exchange Commission
  2. 14 Jan 2016 State Street Bank and Trust Company settled with U.S. Securities and Exchange Commission
  3. 26 Jul 2016 State Street Bank and Trust Company settled with U.S. Securities and Exchange Commission
  4. 26 Jul 2016 State Street Bank and Trust Company settled with U.S. Department of Justice
  5. 7 Sep 2017 State Street Bank and Trust Company settled with U.S. Securities and Exchange Commission
  6. 7 Sep 2017 State Street Bank and Trust Company settled with U.S. Securities and Exchange Commission
  7. 27 Jun 2019 State Street Bank and Trust Company settled with U.S. Securities and Exchange Commission
Proof 13 sources
  1. SEC Charges State Street for Misleading Investors About Subprime Mortgage Investments (press release 2010-21), U.S. Securities and Exchange Commission, 4 Feb 2010. Primary record
    today charged Boston-based State Street Bank and Trust Company with misleading its investors about their exposure to subprime investments while selectively disclosing more complete information to specific investors.
    Under the terms of the settlement, State Street agreed to pay a $50 million penalty, more than $8.3 million in disgorgement and prejudgment interest, and more than $255 million in additional payments to compensate investors.
  2. SEC v. State Street Bank and Trust Company (Litigation Release No. 21408), U.S. Securities and Exchange Commission, 4 Feb 2010. Primary record
    Without admitting or denying the allegations of the complaint, State Street consented to the entry of a final judgment
  3. SEC Charges State Street for Pay-to-Play Scheme (press release 2016-8), U.S. Securities and Exchange Commission, 14 Jan 2016. Primary record
    agreed to pay $12 million to settle charges that it conducted a pay-to-play scheme through its then-senior vice president and a hired lobbyist to win contracts to service Ohio pension funds.
  4. In the Matter of State Street Bank and Trust Company (Exchange Act Release No. 76905, File No. 3-17055), U.S. Securities and Exchange Commission, 14 Jan 2016. Primary record
    without admitting or denying the findings herein
  5. SEC: State Street Misled Custody Clients About Prices for Foreign Currency Exchange Trades (press release 2016-152), U.S. Securities and Exchange Commission, 26 Jul 2016. Primary record
    State Street has agreed to pay $167.4 million in disgorgement and penalties to the SEC, a $155 million penalty to the Department of Justice, and at least $60 million to ERISA plan clients in an agreement with the Department of Labor.
  6. In the Matter of State Street Bank and Trust Company (Investment Company Act Release No. 32390, File No. 3-17720), U.S. Securities and Exchange Commission, 12 Dec 2016. Primary record
    Respondent admits the facts set forth below:
  7. State Street Bank to Pay $382 Million to Settle Allegations of Fraudulent Foreign Currency Exchange Practices (press release), U.S. Department of Justice, 26 Jul 2016. Primary record
    State Street will pay a total of $382.4 million, of which $155 million will be paid as a civil penalty to the United States
    State Street admitted that SSGM executed FX transactions by applying a predetermined, uniform mark-up
  8. State Street Paying Penalties to Settle Fraud Charges and Disclosure Failures (press release 2017-159), U.S. Securities and Exchange Commission, 7 Sep 2017. Primary record
    State Street Global Markets LLC, State Street Global Advisors Funds Distributors LLC, and State Street Bank and Trust Company agreed to pay a $32.3 million penalty to settle the fraud charges for the hidden transition services markups
    State Street Bank and Trust Company agreed to pay a $3 million penalty without admitting or denying the findings that its GovEx-related disclosure failures violated Section 17(a)(2) of the Securities Act of 1933.
  9. In the Matter of State Street Global Markets, LLC, State Street Global Advisors Funds Distributors, LLC, and State Street Bank and Trust Company (Securities Act Release No. 10411, File No. 3-18159), U.S. Securities and Exchange Commission, 7 Sep 2017. Primary record
    Respondents admit the Commission’s jurisdiction over them and the subject matter of these proceedings
  10. In the Matter of State Street Bank and Trust Company (Securities Act Release No. 10410, File No. 3-18158), U.S. Securities and Exchange Commission, 7 Sep 2017. Primary record
    ADMINISTRATIVE PROCEEDING File No. 3-18158
  11. State Street Settles SEC Charges for Adding Undisclosed Markups on Client Expenses (press release 2019-114), U.S. Securities and Exchange Commission, 27 Jun 2019. Primary record
    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.
    Without admitting or denying the SEC's findings, State Street agreed to cease and desist from committing or causing any future violations of these provisions, to pay disgorgement and prejudgment interest of $48.78 million
  12. In the Matter of State Street Bank and Trust Company (Investment Company Act Release No. 33534, File No. 3-19221), U.S. Securities and Exchange Commission, 27 Jun 2019. Primary record
    ADMINISTRATIVE PROCEEDING File No. 3-19221
  13. State Street Corporation annual report for 2025 (Form 10-K), State Street Corporation, 19 Feb 2026. Primary record
    Through our subsidiaries, including our principal banking subsidiary, State Street Bank and Trust Company, referred to as State Street Bank, we operate in more than 100 geographic markets worldwide
    We conduct our business primarily through State Street Bank, which traces its beginnings to 1792, with the founding of our oldest ancestor bank, Union Bank.
Page history 1 change
  1. Sprint 12: State Street, disputing a finding, holders by filing dateAlibek5075dda

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