Defendant Name: Standard & Poor's Ratings Services

Defendant Type: Subsidiary of Public Company
Public Company Parent: McGraw Hill Financial, Inc.
SIC Code: 2731
CUSIP: 58064510

Initial Case Details

Legal Case Name In the Matter of Standard & Poor's Ratings Services
First Document Date 21-Jan-2015
Initial Filing Format Administrative Action
File Number 3-16347
Allegation Type Other

Violations Alleged

Other
• Section 15E(c)(3) Exchange Act; Rules 17g-2(a)(2)(iii), 17g-2(a)(6) Exchange Act

Resolutions

First Resolution Date 21-Jan-2015

Related Documents:

2015-10_3-16347 21-Jan-2015 Press Release--Administrative Proceeding
SEC Announces Charges Against Standard & Poor's for Fraudulent Ratings Misconduct
On January 21, 2015, the SEC issued a Press Release that stated: "The Securities and Exchange Commission today announced a series of federal securities law violations by Standard & Poor's Ratings Services involving fraudulent misconduct in its ratings of certain commercial mortgage-backed securities (CMBS)."
34-74103 21-Jan-2015 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15E(d) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On January 21, 2015, the SEC instituted settled administrative and cease-and-desist proceedings against Standard & Poor's Ratings Services. According to the SEC: "These proceedings involve S&P's failure to maintain and enforce internal controls regarding changes made to an assumption used in surveilling certain Residential Mortgage Backed Securities ('RMBS') supported primarily by seasoned (i.e., pre-2005) collateral with amortization periods of less than 30 years (i.e., short-amortizing collateral or loans)."