SEC Investigating State Street Forex Deals

Law360, New York (May 11, 2011, 8:53 PM EDT) -- Boston-based custody bank State Street Corp. said Tuesday that the U.S. Securities and Exchange Commission was investigating foreign currency exchange transactions it performed on behalf of pension funds.

In a quarterly filing with the SEC, the company said it had also received inquiries or subpoenas concerning its foreign exchange pricing from an unspecified number of state attorneys general, U.S. attorney’s offices and other regulators.

“As we have disclosed previously, State Street is responding to inquiries from various regulatory bodies regarding its foreign exchange practices. We will...
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