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Violation Tracker Individual Record

Company: State Street Bank and Trust Co.
Current Parent Company: State Street Corp.
Penalty: $75,500,000
Year: 2016
Date: July 28, 2016
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: State Street agreed to return $75 million in disgorgement and pay $500,000 to the Commonwealth in settlement of allegations it misrepresented exchange rates for foreign exchange transactions so that clients did not receive the favorable exchange rates they expected. This was part of a larger $382 million settlement involving the federal government; see the Violation Tracker entry at (click here)
Level of Government: state
Action Type: agency action
Agency: Massachusetts Attorney General
Civil or Criminal Case: civil
Facility State: Massachusetts
HQ Country of Current Parent: USA
HQ State of Current Parent: Massachusetts
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.