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State Street Pays $35M To Settle SEC Fraud Charges

Law360, New York (September 7, 2017, 3:48 PM EDT) -- The U.S. Securities and Exchange Commission said Thursday that State Street has agreed to pay $3 million for omitting information about how it operated a government securities trading platform, and has finalized a previously announced $32.3 million penalty for fraudulently overcharging institutional investors.

The SEC filed two orders Thursday that resolve separate claims against subsidiaries of Boston-based custody bank State Street Corp. In one case, State Street Global Markets LLC and two other affiliates agreed to retain an independent ethics and compliance consultant and pay a...
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