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SEC considering action against S&P over ratings

First Published Jul 23 2014 04:37PM      Last Updated Jul 23 2014 04:37 pm

Washington • Standard & Poor’s says regulators have told the rating agency they are considering taking civil enforcement action against it over ratings given to six deals in 2011 involving securities tied to commercial mortgages.

S&P’s parent McGraw Hill Financial Inc. disclosed Wednesday in a regulatory filing it has received a so-called "Wells Notice" from staff of the Securities and Exchange Commission. The notice indicates the staff will recommend to the five-member commission that it pursue action against S&P for alleged violations of securities laws.

Under SEC procedure, S&P will be able to make its case to the agency on the issues raised by the notice.



New York-based McGraw Hill says S&P has been cooperating with the SEC and will continue to do so.

 

 

 

 

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