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State Street Pays $88M to Settle Overbilling Charges

July 3, 2019 by Louis Chunovic

State Street Pays $88M to Settle Overbilling Charges

State Street Bank and Trust Company will pay more than $88 million to settle allegations that it overcharged mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets, according to a Securities and Exchange Commission (SEC) report. The overcharges allegedly included a “secret markup that State Street… Read More >>

Filed Under: Buy-Side, Corporate Actions, Data Management, Middle-Office, Operational Risk, Ops Automation, Risk Management, Governance, FinTech Trends, Back-Office, Integration, Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Industry News Tagged With: client assets, mutual funds, overbilling, SEC, settle allegations, settlement, State Street, SWIFT markup

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