S&P Global Ratings to pay $2.5 million to settle US SEC charges of conflict-of-interest violations
( November 14, 2022, 22:15 GMT | Official Statement) -- MLex Summary: S&P Global Ratings agreed to pay $2.5 million to settle US Securities and Exchange Commission charges that the credit-rating agency violated conflict-of-interest rules intended to prevent sales and marketing considerations from influencing ratings. In August 2017, S&P commercial employees responsible for managing the relationship with the issuer of a jumbo residential mortgage-backed security transaction allegedly became participants in the rating process while affected by sales and marketing concerns. S&P and Moody’s are by far the two largest US bond-rating agencies.FOR IMMEDIATE RELEASE 2022-205...
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