S&P Global Ratings Reaches Settlement With SEC To Resolve Violations Of Recordkeeping Rules; To Pay Penalty Of $20M As Part Of Resolution
Portfolio Pulse from Benzinga Newsdesk
S&P Global Ratings has reached a settlement with the SEC over violations of recordkeeping rules, agreeing to pay a $20 million penalty. The SEC acknowledged SPGR's remedial actions and cooperation. SPGR emphasizes its commitment to compliance and integrity in its ratings process.
September 03, 2024 | 8:58 pm
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S&P Global Inc. (SPGI) has settled with the SEC for $20 million over recordkeeping violations. The SEC noted SPGR's cooperation and remedial actions, and SPGR reiterated its commitment to compliance and integrity.
The settlement resolves a legal issue, which removes uncertainty for SPGI. The $20M penalty is significant but manageable for a company of SPGI's size. The SEC's acknowledgment of SPGR's cooperation and remedial actions may mitigate negative perceptions. Overall, the impact on SPGI's stock price is likely neutral in the short term.
CONFIDENCE 100
IMPORTANCE 70
RELEVANCE 90