S&P Global Ratings Reaches Settlement With SEC
S&P Global Ratings (SPGR), a division of S&P Global (NYSE: SPGI), has reached a settlement with the U.S. Securities and Exchange Commission (SEC) as part of an industry-wide investigation into off-channel communications. The settlement resolves violations of recordkeeping rules and involves SPGR agreeing to pay a penalty of USD 20 million. The SEC acknowledged SPGR's remedial actions and cooperation during the investigation. SPGR has expressed its commitment to regulatory compliance and maintaining the integrity of its ratings process. This matter was previously disclosed in S&P Global's public filings, and the company is pleased to have concluded the issue.
S&P Global Ratings (SPGR), una divisione di S&P Global (NYSE: SPGI), ha raggiunto un accordo con la Securities and Exchange Commission (SEC) degli Stati Uniti nell'ambito di un'inchiesta di settore sulle comunicazioni off-channel. L'accordo risolve le violazioni delle normative sulla conservazione dei registri e prevede che SPGR paghi una penale di 20 milioni di USD. La SEC ha riconosciuto le azioni correttive e la collaborazione di SPGR durante l'inchiesta. SPGR ha dichiarato il suo impegno per la conformità normativa e per il mantenimento dell'integrità del proprio processo di valutazione. Questa questione era stata precedentemente divulgata nei documenti pubblici di S&P Global e l'azienda è lieta di aver concluso la questione.
S&P Global Ratings (SPGR), una división de S&P Global (NYSE: SPGI), ha alcanzado un acuerdo con la Comisión de Bolsa y Valores de EE. UU. (SEC) como parte de una investigación a nivel industrial sobre comunicaciones fuera de los canales establecidos. El acuerdo resuelve violaciones de las normas de conservación de registros y implica que SPGR acuerde pagar una multa de 20 millones de USD. La SEC reconoció las acciones correctivas y la cooperación de SPGR durante la investigación. SPGR ha expresado su compromiso con el cumplimiento regulatorio y el mantenimiento de la integridad de su proceso de calificación. Este asunto se había divulgado previamente en los documentos públicos de S&P Global, y la empresa se complace en haber concluido esta cuestión.
S&P 글로벌 등급(SPGR)은 S&P 글로벌(NYSE: SPGI)의 일부로, 오프 채널 의사소통에 대한 산업 전반의 조사 일환으로 미국 증권 거래 위원회(SEC)와 합의에 도달했습니다. 이 합의는 기록 보관 규칙 위반을 해결하고, SPGR이 2000만 달러의 벌금을 지급하기로 동의함을 포함합니다. SEC는 조사 동안 SPGR의 시정 조치와 협조를 인정했습니다. SPGR은 규제 준수와 등급 프로세스의 무결성 유지를 위해 헌신하겠다는 의사를 밝혔습니다. 이 문제는 이전에 S&P 글로벌의 공개 서류에 공개되었으며, 회사는 이 문제를 마무리하게 되어 기쁘게 생각합니다.
S&P Global Ratings (SPGR), une division de S&P Global (NYSE: SPGI), a conclu un accord avec la Securities and Exchange Commission (SEC) des États-Unis dans le cadre d'une enquête sectorielle sur les communications hors canal. L'accord résout des violations des règles de conservation des dossiers et implique que SPGR accepte de payer une amende de 20 millions USD. La SEC a reconnu les actions correctives de SPGR et sa coopération durant l'enquête. SPGR a exprimé son engagement envers la conformité réglementaire et le maintien de l'intégrité de son processus d'évaluation. Cette affaire avait été précédemment divulguée dans les documents publics de S&P Global, et l'entreprise est heureuse d'avoir conclu cette question.
S&P Global Ratings (SPGR), eine Abteilung von S&P Global (NYSE: SPGI), hat eine Einigung mit der US-amerikanischen Wertpapieraufsichtsbehörde (SEC) im Rahmen einer branchenweiten Untersuchung zu Off-Channel-Kommunikationen erzielt. Die Einigung regelt Verstöße gegen die Aufbewahrungsrichtlinien und umfasst die Vereinbarung von SPGR, eine Strafe in Höhe von 20 Millionen USD zu zahlen. Die SEC erkannte SPGRs Maßnahmen zur Schadensbegrenzung und die Zusammenarbeit während der Untersuchung an. SPGR hat sein Engagement für die Einhaltung von Vorschriften und die Wahrung der Integrität seines Bewertungsprozesses bekundet. Diese Angelegenheit wurde zuvor in den öffentlichen Unterlagen von S&P Global bekannt gegeben, und das Unternehmen freut sich, diese Angelegenheit abgeschlossen zu haben.
- SEC recognized SPGR's remedial acts and cooperation
- Matter concluded, reducing regulatory uncertainty
- USD 20 million penalty imposed by SEC
- Violations of recordkeeping rules identified
Insights
The $20 million settlement between S&P Global Ratings and the SEC is a significant development in the financial sector. This resolution, part of a broader industry investigation into off-channel communications, highlights the increasing regulatory scrutiny on recordkeeping practices. While the penalty is substantial, it's important to note that the SEC acknowledged SPGR's remedial actions and cooperation, which likely mitigated the severity of the punishment.
From a legal perspective, this settlement underscores the critical importance of compliance with recordkeeping rules in the financial industry. It serves as a stark reminder to other NRSROs and financial institutions about the potential consequences of failing to maintain proper communication records. The resolution also demonstrates the SEC's commitment to enforcing these regulations, which could lead to increased compliance efforts across the industry.
The
From a market perspective, this settlement might lead to increased operational costs across the industry as companies invest in improved compliance systems. It's important for investors to assess how well other financial services firms are prepared for similar regulatory scrutiny, as this could become a sector-wide trend affecting valuations and risk profiles.
This settlement highlights the growing importance of robust compliance programs in the financial services sector, particularly regarding electronic communications. Companies must now prioritize investments in technology and training to ensure all employee communications, including those on personal devices, are properly recorded and archived. This case serves as a wake-up call for the industry to reassess and strengthen their recordkeeping practices.
The SEC's recognition of SPGR's remedial actions suggests that proactive compliance measures can mitigate regulatory consequences. Moving forward, we may see a shift towards more stringent internal policies and increased use of monitoring technologies across the financial sector. This could lead to new opportunities for compliance technology providers and consultants specializing in regulatory adherence.
SPGR agreed to pay a penalty of
SPGR is pleased to have concluded this matter. SPGR takes compliance with regulatory obligations very seriously and is committed to the integrity of its ratings process and high-quality independent credit ratings.
ABOUT S&P GLOBAL RATINGS
S&P Global Ratings is the world's leading provider of independent credit ratings. Our ratings are essential to driving growth, providing transparency and helping educate market participants so they can make decisions with confidence. We have more than 1 million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities. We offer an independent view of the market built on a unique combination of broad perspective and local insight. We provide our opinions and research about relative credit risk; market participants gain independent information to help support the growth of transparent, liquid debt markets worldwide. S&P Global Ratings is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/ratings.
Media Contact:
Christopher Krantz
Tel: +44 7976 632 638
christopher.krantz@spglobal.com
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SOURCE S&P Global Ratings
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