State Street Corp. provides money-handling services to pension funds and other big investors. The SEC has been investigating the way the company solicited the business of public retirement plans in two states. The company says the issues involve its use of consultants and lobbyists, and political contributions made by a consultant during and after a public bidding process.
The company says the SEC investigation covers a period that ended in 2011.
via State Street says SEC unit wants to sue over its use of consultants, lobbyists to win business — AP