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
Document Reference:
33-9704
Document Details
Legal Case Name
In the Matter of Standard & Poor's Ratings Services
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Sections 15E(d) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
21-Jan-2015
Document Format
Administrative Proceeding
Allegation Type
Other
Document Summary
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 misconduct by S&P in 2012 concerning its criteria for rating conduit/fusion Commercial Mortgage Backed Securities ('CF CMBS') and related research. After being frozen out of the market for rating CF CMBS in late 2011, S&P sought to re-enter the market in 2012 by publishing new ratings criteria (the '2012 CMBS Criteria').... Separately, S&P also did not accurately describe certain aspects of its 2012 CMBS Criteria in the publication setting forth their operation."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Various undertakings
Monetary Penalties:
Civil Penalty
Individual:
$15,000,000.00
Shared:
