
SEC May Seek Sanctions Against State Street Execs
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Missing Money
Articles and video discussions of the $21 Trillion dollars missing from the U.S. government
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SEC May Seek Sanctions Against State Street Execs
The U.S. Securities and Exchange Commission may seek sanctions against two former State Street Corp. executives accused of misleading investors in a bond fund involved in a $313 million settlement with the agency.
John Flannery and James Hopkins “played an instrumental role” in letters touting as safe a fund that was almost entirely invested in securities and derivatives backed by the subprime mortgages, the SEC said yesterday. State Street, the second-largest money manager for institutions, resolved related claims in February without admitting or denying the allegations.
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