State Street UK has been fined £22.9m by the Financial Conduct Authority (FCA) for deliberately adding concealed charges to transition management(TM) clients' bills.
This comes after State Street was forced to reimburse a TM client after an internal investigation found they had been charged double fees (PP Online, 14 October 2011). TM is a service provided t...
To continue reading this article...
Join Professional Pensions
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date
