SEC v. Ross McLellan

Ross McLellan allegedly led a scheme to add secret commissions to billions of dollars of securities trades performed for at least six clients of State Street’s transition management business, according to the SEC’s complaint. McLellan allegedly charged unauthorized commissions in addition to fees the clients had expressly agreed to pay State Street and that McLellan took steps to conceal the commissions from the clients and others within State Street, according to the SEC.

Summary generated from official Securities and Exchange Commission press release