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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
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- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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SEC Probes State Street Foreign-Exchange Pricing
State Street, the third-largest custody bank, is being investigated by SEC over its pricing of some foreign-exchange services, an issue that has drawn legal action from whistle-blowers and state officials.
The disclosure made in a regulatory filing made public May 9, comes after the firm has been sued by California and the Arkansas Teacher Retirement System for alleged fraud. The suits claim State Street secretly marked up the price of some foreign- exchange transactions. Those and similar suits against Bank of New York Mellon Corp. (BK) have brought scrutiny to currency transactions that could lead to lower revenue across the industry.
State Street says its cooperating with the investigation. [Bloomberg 5/12/11]
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