January 28, 2016

January 21, 2015

Standard & Poor’s Ratings Services agreed to pay $77M to settle fraud charges relating to its ratings of certain commercial mortgage-backed securities.  According to the Director of the SEC Enforcement Division Andrew J. Ceresney, “Standard & Poor’s elevated its own financial interests above investors by loosening its rating criteria to obtain business and then obscuring these changes from investors.  These enforcement actions, our first-ever against a major ratings firm, reflect our commitment to aggressively policing the integrity and transparency of the credit ratings process.”  SEC

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