State Street on Thursday reached a $313m settlement with federal and state regulators over allegations it misled investors about their exposure to subprime mortgages ahead of the credit crisis. The SEC had accused the Boston-based bank of giving some investors in its $3bn Limited Duration Bond Fund more information than others, enabling the better-informed investors to sell their holdings before the fund’s value plunged.

This entry was posted by Gwen Robinson on Friday, February 5th, 2010 at 5:30 and is featured in The 6am Cut London (5 Feb 2010) . Tagged with state street. Edit this entry.