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‘Enforcement 40’ for 2020
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SEC faults rating firms for rule lapses, lax cybersecurity — Dow Jones Newswires
By Securities Docket on December 27, 2014, 9:42 am
In two annual SEC staff reports based on reviews of the 10 credit-rating firms registered with the agency, it said the industry’s largest players lacked sufficient internal systems to prevent the “misuse or inappropriate dissemination” of sensitive or restricted information about the firms and entities they rate. But the agency said rating firms have added […]
Posted in SEC, Top | Tagged Cybersecurity, Rating agencies
S&P Nears Settlement on Real-Estate Bond Ratings – WSJ
By Securities Docket on December 26, 2014, 10:02 am
Standard & Poor’s Ratings Services is nearing a settlement with regulators over their investigation of how the company graded real-estate bonds, according to people familiar with the matter. via S&P Nears Settlement on Real-Estate Bond Ratings – WSJ
Posted in SEC, Top | Tagged Rating agencies
SEC Commissioner Says New Rating Agency Rule Creates a ‘Thoughtcrime’ | Compliance Week
By Securities Docket on September 11, 2014, 4:20 pm
In a stinging dissent, SEC Commissioner Daniel Gallagher wrote late last month that a new SEC rule governing rating agencies has established a “thoughtcrime.” via SEC Commissioner Says New Rating Agency Rule Creates a ‘Thoughtcrime’ | Compliance Week
Posted in SEC, Top | Tagged Rating agencies, Rulemaking
SEC Is Gearing Up to Focus on Ratings Firms – WSJ
By Securities Docket on June 26, 2014, 8:19 am
The government’s top credit-rating watchdog has kept a low profile since taking the job two years ago to help prevent another financial crisis. That may be about to change. Thomas J. Butler, head of the Securities and Exchange Commission’s Office of Credit Ratings, said he has referred multiple cases to the agency’s enforcement division and […]
Posted in SEC, Top | Tagged Rating agencies
Judge Rules in Favor of States in Suits Against S&P – WSJ
By Securities Docket on June 4, 2014, 7:42 am
Standard & Poor’s Ratings Services lost a bid to combine more than a dozen state lawsuits filed in the aftermath of the financial crisis, with a U.S. federal judge ruling that the cases be dealt with separately in the state courts. via Judge Rules in Favor of States in Suits Against S&P – WSJ.
Posted in Industry, Top | Tagged Financial Crisis, Rating agencies
SEC pursuing new enforcement cases against rating firms — Reuters
By Securities Docket on May 1, 2014, 9:38 am
“There are a lot of new rules for credit rating agencies,” SEC Enforcement Director Andrew Ceresney said at the Reuters Financial Regulation Summit. “That’s an area we’re very focused on, and trying to make sure that we’re enforcing those, and I think you’ll see some activity there. via SEC pursuing new enforcement cases against rating […]
Posted in SEC, Top | Tagged Rating agencies
S&P Says Trial on 163 Securities Sought by U.S. Is Unfair – Bloomberg
By Securities Docket on December 13, 2013, 9:39 am
McGraw Hill Financial Inc.’s Standard & Poor’s said it would be unfair to let the U.S. Justice Department put more than 150 selected securities before a jury to argue the firm’s ratings were the result of fraud. S&P’s lawyer, John Keker, said at a hearing yesterday in federal court in Santa Ana, California, that if […]
Posted in Industry, Top | Tagged Rating agencies, Trials
European Watchdog Warns of Possible Action Against Ratings Agencies – NYTimes.com
By Securities Docket on December 3, 2013, 7:23 am
A European financial watchdog on Monday left open the door for regulatory action after it said it discovered a series of “shortcomings” in how the major rating agencies assess risk to sovereign debt. via European Watchdog Warns of Possible Action Against Ratings Agencies – NYTimes.com
Posted in Global, Top | Tagged Rating agencies
S&P calls U.S. lawsuit retaliation for stripping ‘AAA’ rating — Reuters
By Securities Docket on September 10, 2013, 7:47 am
Standard & Poor’s on Tuesday blasted a $5 billion fraud lawsuit by the U.S. government as retaliation for its 2011 decision to strip the country of its “AAA” credit rating. The McGraw Hill Financial Inc unit was the only major credit rating agency to take away the United States’ top rating, and the only one […]
Posted in Industry, Top | Tagged Rating agencies
Regulator Steps Up Probe Into S&P – WSJ
By Securities Docket on August 7, 2013, 4:53 pm
The Securities and Exchange Commission’s enforcement division is investigating whether Standard & Poor’s Ratings Services violated the law when the firm bungled ratings on a 2011 real-estate deal, according to people with direct knowledge of the probe. via Regulator Steps Up Probe Into S&P – WSJ
Posted in SEC, Top | Tagged Investigations, Rating agencies