Violation Tracker Individual Record

Company: 
State Street Bank & Trust Co.
Current Parent Company: 
State Street Corp.
Penalty: 
$300,000,000
Year: 
2010
Date: 
February 4, 2010
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

State Street Bank agreed to pay approximately $310 million in restitution to investors and a $10 million penalty to the Commonwealth as part of a settlement of allegations it misled fund investors about the riskiness of their investments and did not disclose information necessary for investors to decide on remaining in collective trust funds it managed. The settlement was also announced by the SEC; see the Violation Tracker entry at https://violationtracker.goodjobsfirst.org/violation-tracker/-state-stre...

Level of Government: 
state
Action Type: 
agency action
Agency: 
Massachusetts Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Massachusetts
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.