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Violation Tracker Individual Record

Company: Standard & Poor's Financial Services LLC
Current Parent Company: S&P Global
Penalty: $1,375,000,000
Year: 2015
Date: February 3, 2015
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: The Department of Justice and 19 states and the District of Columbia entered into a $1.375 billion settlement agreement with the rating agency Standard & Poor's Financial Services LLC, along with its parent corporation McGraw Hill Financial Inc., to resolve allegations that S&P had engaged in a scheme to defraud investors in structured financial products known as Residential Mortgage-Backed Securities and Collateralized Debt Obligations.
Level of Government: federal
Action Type: agency action
Agency: Justice Department multiagency referral
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: information technology
Specific Industry of Current Parent: information services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.