bobbyw24
09-27-2011, 07:03 AM
The nation’s foremost financial securities regulator is considering bringing a civil injunction against Standard & Poor’s (S&P) for its rating of a collateralized debt obligation (CDO) linked to high-risk mortgages.
S&P’s parent company, New York-based McGraw-Hill Cos., told investors Monday that it has received a “Wells Notice” from the Securities and Exchange Commission (SEC) stating that the federal agency may recommend instituting a civil injunctive action against S&P along with civil money penalties and disgorgement of fees.
A Wells Notice from the SEC signals the recipient is the subject of a formal investigation and the federal agency is planning to proceed with some form of enforcement action.
http://www.dsnews.com/articles/sec-considering-legal-action-against-sp-for-rating-of-mortgage-cdo-2011-09-26
S&P’s parent company, New York-based McGraw-Hill Cos., told investors Monday that it has received a “Wells Notice” from the Securities and Exchange Commission (SEC) stating that the federal agency may recommend instituting a civil injunctive action against S&P along with civil money penalties and disgorgement of fees.
A Wells Notice from the SEC signals the recipient is the subject of a formal investigation and the federal agency is planning to proceed with some form of enforcement action.
http://www.dsnews.com/articles/sec-considering-legal-action-against-sp-for-rating-of-mortgage-cdo-2011-09-26