SEC Whacks Bank

State Street Bank and Trust will pay $88 million to settle charges of overcharging mutual funds and other registered investment company clients for expenses related to the firm's custody of client assets, the SEC said Thursday.

WASHINGTON — State Street Bank and Trust will pay $88 million to settle charges of overcharging mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets, the SEC said Thursday.

Categories / Financial, Government

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