The Secretary of the Commonwealth of Massachusetts has fined State Street Corp. $5 million over its role as investment manager in the Carina CDO.

State Street Global Advisors (SSgA), acting as investment manager of Carina CDO Ltd., was responsible for the selection, acquisition and sale of collateral assets for the CDO. The secretary of the commonwealth said in its claim that SSgA also assumed an active role in marketing the CDO to investors.

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