While gnawing on that leftover drumstick, you might want to consider whether or not your holiday turkey was glazed with a “calculation error.” The Securities and Exchange Commission (SEC) has charged S&P Global Ratings (SPGR), a “nationally recognized statistical rating organization (NRSRO) registered with the Commission, with violating conflict of interest rules designed to prevent… Read More >>
Will S&P’s $1.5B Settlement Change Anything?
Standard & Poor’s Ratings Services has agreed to pay $1.5 billion to settle claims the company defrauded investors by stamping risky financial products with bullish appraisals in the years leading up to the Great Recession. However, some industry observers aren’t convinced that the record penalties will achieve their intended effect of ensuring the ratings agencies… Read More >>
S&P to Pay $58M to SEC Over Fraud Charges
One of the Big Three ratings agencies, Standard & Poor’s Ratings Services, has reached a $58 million deal with the SEC, settling charges of “fraudulent misconduct in its ratings of certain commercial mortgage-backed securities,” officials say. The settlement of the case is likely to further erode the industry’s trust in the already tarnished ratings agencies,… Read More >>
