Defendant Name: S&P Global Ratings

Defendant Type: Subsidiary of Public Company
Public Company Parent: S&P Global Inc.
SIC Code: 6282
CUSIP: 78409V10

Initial Case Details

Legal Case Name In the Matter of S&P Global Ratings
First Document Date 14-Nov-2022
Initial Filing Format Administrative Action
File Number 3-21240
Allegation Type Other

Violations Alleged

Other
• Section 15E(h)(1) Exchange Act; Rules 17g-5(c)(8)(i), 17g-5(c)(8)(ii) Exchange Act

Resolutions

First Resolution Date 14-Nov-2022
Headline Total Penalty and Disgorgement $2,500,000

Related Documents:

34-96308 14-Nov-2022 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 November 14, 2022, the SEC instituted settled administrative and cease-and-desist proceedings against S&P Global Ratings, stating: "This matter arises from the rating of a residential mortgage backed security ("RMBS") transaction by S&P Global Ratings in 2017. At that time, S&P had not rated a prime "jumbo" RMBS transaction in over two years and had not rated any transaction for this issuer since early 2015. S&P commercial employees viewed the engagement as a very positive development for S&P and its RMBS rating business."
2022-205 14-Nov-2022 Press Release--Administrative Proceeding
SEC Charges S&P Global Ratings with Conflict of Interest Violations
The SEC stated that: "[It] charged S&P Global Ratings, a nationally recognized statistical rating organization (NRSRO) registered with the Commission, with violating conflict of interest rules designed to prevent sales and marketing considerations from influencing credit ratings."