Proposed rules will require certain institutional investors to report short sale information to the SEC on a monthly basis.
State Street was approached by the US Department of Justice which had outlined a framework for a possible resolution into their review in late January.
Custodian found to have added secret markups on SWIFT message in another regulatory case of overcharging clients.
The US SEC has collected monetary settlements exceeding $370 million relating to its investigation into improper handling of pre-released ADRs.
US custodian in ongoing settlement talks with regulator after first proposal was rejected for being 'too low'.
Jeffrey Mooney was part of the regulatory team responsible for the US transition to a T+2 settlement cycle in 2017.
Citi is the second bank the SEC has taken action against for ADR pre-release abuses within its depositary banking business.
The investigation follows the recent $75 million settlement Deutsche Bank agreed to pay to the SEC for improper handling of pre-released ADRs.
The German bank will pay the settlement after its US subsidiaries were charged with improper handling of “pre-released” ADRs.