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
File Number 3-16347
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

Cease and Desist Order
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:    

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)."