State Street

The SEC has charged two employees of Boston-based State Street with misleading investors over exposure to sub-prime debt.

Actively managed ETFs that aim to outperform a given benchmark need transparent and efficient servicing processes to be competitive, according to State Street.

Legg Mason Global Asset Management has appointed State Street to provide its fund administration and custodian services in the UK.

Cheap and easy to set up, ETFs are seen as a major breeding ground for innovation over the coming years