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money market portfolio

SEC charges State Street for misleading investors about sub-prime mortgage investments

Judges Gavel

The Securities and Exchange Commission (SEC) has charged Boston-based State Street Bank and Trust Company with misleading its investors about their exposure to sub-prime investments while selectively disclosing more complete information to specific investors. State Street has agreed to settle the SEC's charges by paying more than $300 million that will be distributed to investors who lost money during the sub-prime market meltdown in 2007.Click to continue