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S&P to Pay $77 Million for Ratings Misconduct

Jaclyn Jaeger | January 21, 2015

Standard & Poor’s Ratings Services today agreed to pay more than $77 million to the government for a series of federal securities law violations involving fraudulent misconduct in its ratings of certain commercial mortgage-backed securities.

As part of its settlement, S&P will pay more than $58 million to the Securities and Exchange Commission, plus an additional $12 million to the New York Attorney General’s office, and $7 million to the Massachusetts Attorney General’s office to settle parallel cases.

“Standard & Poor’s elevated its own financial interests above investors by loosening its rating criteria to obtain...

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