State Street to pay $88m for overcharging mutual funds and asset custody

On the 07.01.19 at 10:29AM


Adrien Paredes-Vanheule

The SEC said $110m were collected by the firm via a secret markup that State Street tacked on to the cost of sending secured financial messages through the Society of worldwide interbank financial telecommunication (SWIFT) network.

The Securities and Exchange Commission has announced on 27 June that State Street Bank and Trust Company (State Street) has agreed to pay over $88 million to settle charges for overcharging mutual funds and other registered investment company clie

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