Violation Tracker Individual Record

Company: 
State Street Bank and Trust Company
Current Parent Company: 
State Street Corp.
Penalty: 
$382,400,000
Year: 
2016
Date: 
July 26, 2016
Primary Offense: 
investor protection violation
Violation Description: 

State Street Bank and Trust Company agreed to pay $382.4 million in a global settlement for misleading mutual funds and other custody clients by applying hidden markups to foreign currency exchange trades.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Massachusetts
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.