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
Primary Offense: 
toxic securities abuses
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 Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
information technology
Specific Industry of Parent: 
information services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.