Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

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...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.