S&P settles with SEC for $58 million over bond ratings fraud

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Standard & Poor’s Ratings Services will pay the Securities and Exchange Commission $58 million to settle. Under the settlement S&P is also barred from grading certain bond deals for one year. The.

In settling, S&P agreed to pay more than $58 million to the SEC, $12 million to New York Attorney General Eric T. Schneiderman and $7 million to Martha Coakley, Massachusetts’ attorney general.

On television and in the courtroom, Standard & Poor’s has waged war against a Justice Department lawsuit.But behind the scenes, the giant bond-rating agency wants nothing more than to buy peace. After S.&P. mounted a two-year campaign to defeat civil fraud charges – portraying them as retaliation for cutting the credit rating of the United States – the ratings agency is now negotiating.

SEC settles charges with Apple iPhone vendor over accounting fraud, according to the SEC, Apple agreed to advance $578 million in four installments to GT in.

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According to The New York Times, the SEC has been successful in reporting frauds committed by some of the leading ratings agencies like S&P, which cost $58 million to settle the SEC’s charges and an additional $19 million to settle parallel cases by the New York attorney general’s office ($12 million) and the Massachusetts attorney general.

In a $77 million settlement. regulators over post-crisis violations, S&P had to do more than write a check. It agreed to a one-year ban from rating a segment of the commercial mortgage-backed.

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In a settlement with the U.S. Securities and. Insurance giant AIG agreed to pay a $10 million penalty to the SEC in a settlement concerning fraud allegations at cell. $58 Million . Former.

Two U.S. businessmen made more than $15 million over five years. their alleged fraud by focusing on obscure stocks that had previously attracted few investors, according to a separate affidavit.