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:
34-74103
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 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 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)."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Various undertakings
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Civil Penalty
Individual:
$1,000,000.00
Shared:
