Reuters logo
U.S. SEC weighs filing charges against S&P
July 23, 2014 / 9:56 PM / in 3 years

U.S. SEC weighs filing charges against S&P

July 23 (Reuters) - McGraw Hill Financial Inc said its Standard & Poor’s rating unit may face civil charges by U.S. securities regulators over rating of six commercial mortgage-backed securities transactions in 2011.

McGraw Hill said it received a “Wells Notice” from the U.S. Securities and Exchange Commission, alleging violations of federal securities laws by Standard & Poor’s related to the ratings.

A Wells notice is usually the last step in an SEC investigation before a civil enforcement action is filed, and gives a recipient one last chance to convince regulators not to file a lawsuit.

S&P has been cooperating with the SEC, McGraw Hill said.

McGraw Hill shares closed at $83.11 on the New York Stock Exchange on Wednesday. (Reporting By Neha Dimri in Bangalore; Editing by Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below