SEC
Whistleblower
Attorneys

September 07, 2017

State Street Global Markets LLC, State Street Global Advisors Funds Distributors LLC, State Street Bank and Trust Company

Financial Fraud

SANCTION AMOUNT: $32300000

Defendants: State Street Global Markets LLC, State Street Global Advisors Funds Distributors LLC, State Street Bank and Trust Company

Respondent settled charges of fraudulent mistreatment of customers, by charging them secret markups for transition management services (to the tune of $20 million additional/improper revenue). The Commission noted its allegation that, to conceal the scheme, the markups were falsely explained to one customer who detected and asked about them.

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