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State Street to pay $64 million to resolve U.S. fraud probe

Reuters - UK Focus

Jan 18 (Reuters) - State Street Corp will pay more than $64 million to resolve U.S. investigations into what prosecutors said was a scheme to defraud six clients through secret commissions on billions of dollars of trades, authorities said on Wednesday.

Under the deal, State Street entered into a deferred prosecution agreement with federal prosecutors in Boston and agreed to pay $32.3 million. The bank will pay an equal amount to the U.S. Securities and Exchange Commission. (Reporting by Nate Raymond in New York; Editing by Chizu Nomiyama)