Conn. Latest To Probe State Street Forex Trades

Law360, New York (April 11, 2012, 4:10 PM EDT) -- Connecticut authorities confirmed Wednesday that they are investigating foreign currency exchange transactions made by State Street Corp. on behalf of the state's $24.7 billion pension fund, becoming the latest state to question whether State Street overcharged investors on forex transactions.

Connecticut Attorney General George Jepsen has put out a bid for consulting services to analyze forex transactions carried out by State Street on behalf of Connecticut Retirement Plans and Trust Funds, which covers approximately 190,000 public employees.

The analysis would determine if the costs incurred by...
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