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S&P Global Ratings Pays $2.5 Million to Settle SEC Charges



(Reuters) — S&P Global Ratings agreed to pay a $2.5 million penalty to settle U.S. Securities and Exchange Commission allegations that it violated rules to prevent conflicts of interest, the regulator said in a statement on Monday.

S&P employees were hit by rules designed to prevent sales and marketing considerations from influencing credit rating determinations during a five-day period in August 2017, the SEC said. S&P commercial staff tried to pressure colleagues responsible for evaluating and assigning a rating to an issuer with an issuer financing a jumbo residential transaction.

The company’s commercial employees “became participants in the rating process at a time when they were influenced by sales and marketing considerations,”

; the SEC said in its statement.

S&P, which did not acknowledge or deny the SEC’s findings, said in a statement that it “remains committed to the integrity of its rating process, to complying with its regulatory obligations and to maintaining rigorous procedures to protect our high-quality independent credit ratings.”

Credit rating agencies, which are registered with the SEC, are required to keep all sales and marketing considerations from influencing credit ratings.


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