Business

State Street Global Advisors Fined Millions

By Anthony Silva, WBZ NewsRadio 1030 New England Business Editor
View Comments
State Street
420x316-grad-silva Anthony Silva
Anthony Silva is co-host of the WBZ Afternoon News heard each wee...
Read More

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

BOSTON (CBS) – The state has imposed a $5 million penalty on State Street Global Advisors, for failing to tell investors the true nature of a very risky investment.

Secretary of State Bill Galvin says State Street Global Advisors failed to tell investors about the involvement of a hedge fund that was actually betting the investment being sold would fail.

I spoke with Galvin and a State Street Global Advisors spokesperson.

Listen to the report

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 2,050 other followers