S&P Global Ratings (SPGR), a subsidiary of S&P Global, has reached a settlement with the SEC and agreed to pay a $20 million penalty.
Specifically, the settlement resolves violations of recordkeeping rules.
Speaking in an announcement, the firm said: “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.”
The SEC has officially recognised SPGR’s remedial acts and cooperation with the regulator.
In recent times, the watchdog has launched intense industry-wide investigations into off-channel communications. Just last month 26 broker-dealers were charged with millions in recordkeeping failures.
Speaking in August, Gurbir Grewal, director of the SEC division of enforcement, asserted: “As today’s enforcement actions against more than two dozen firms reflect, we remain committed to ensuring compliance with the books and records requirements of the federal securities laws, which are essential to investor protection and well-functioning markets.”