U.S. Securities and Exchange Commission inspectors said a large credit-rating firm's procedures "appeared to allow" for a pending rating decision to be disclosed to certain people before the action was publicly announced.
The findings, based on inspections conducted in 2009 and 2010, were part of the SEC's first annual report on credit-rating firms mandated by the Dodd-Frank Act. Carlo di Florio, head of the Office of Compliance Inspections and Examinations, declined to identify any of the firms referenced in the report.
"If we find any concerns or significant violations of law we make referrals to the Enforcement Division and they take appropriate action," di Florio said in a conference call with reporters today.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
