BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
(Reuters) — S&P Global Ratings agreed to pay a $2.5 million penalty to settle U.S. Securities and Exchange Commission charges that it violated rules to prevent conflicts of interest, the regulator said in a statement Monday.
S&P employees ran afoul of rules designed to prevent sales and marketing considerations from influencing credit ratings determinations during a five-day period in August 2017, the SEC said. S&P commercial employees attempted to pressure colleagues responsible for evaluating and assigning a rating to a jumbo residential mortgage-backed security transaction by an issuer.
The firm's commercial employees "became participants in the rating process during a time when they were influenced by sales and marketing considerations," the SEC said in its statement.
S&P, which did not admit or deny the SEC's findings, said in a statement that it “remains committed to the integrity of its ratings process, to compliance with its regulatory obligations, and to maintenance of rigorous procedures to protect our high-quality independent credit ratings.”
Ratings agencies, which are registered with the SEC, are required to keep all sales and marketing considerations from affecting credit ratings.