By
Jaclyn Jaeger2019-06-27T19:24:00
State Street will pay $88.8 million to resolve charges with the SEC that it overcharged mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets.
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2021-05-14T16:43:00Z By Jaclyn Jaeger
State Street will pay a $115 million criminal penalty and enter into a deferred prosecution agreement with the Department of Justice for mutual fund and expenses overcharges.
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A new Department of Justice (DOJ) division will lead investigations of government fraud, and take over duties—and staff, and funds– currently handled by other DOJ divisions and government agencies, Acting Attorney General Todd Blanche announced.
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The Hong Kong Monetary Authority’s Bank Culture Reform program is in its eighth year. Phase 2 of its misconduct-sharing scheme covers more than 50,000 banking professionals. The shift signals regulators are evaluating whether culture works, not just prescribing rules.
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Visa, Mastercard, PayPal, and Stripe have received letters from the Federal Trade Commission, warning the companies to end any policies or terms of service that may result in the “debanking” of customers.
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The ink was barely dry on the U.S. Department of Justice’s new corporate enforcement policy (CEP) when the agency announced it would not prosecute Balt SAS for alleged bribery violations.
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