US - State Street Corp. has reached a settlement with the SEC and Massachusetts authorities that results in the firm ultimately paying US$663m to investors who lost money in active fixed income strategies run by State Street Global Advisors.
The firm said yesterday it settled without admitting or denying guilt. In 2007, State Street came under fire from investors for allegedly misrepresenting the amount of risk in some of its bond f...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
