|McGraw Hill Financial And S&P Ratings Reach Settlements With DOJ, Attorneys General Of 19 States And District Of Columbia And With CalPERS|
The settlement contains no findings of violations of law by the Company,
The settlement agreement states that all parties, including the Company, the DOJ and the States, settled this matter "to avoid the delay, uncertainty, inconvenience, and expense of further litigation." After careful consideration, the Company determined that entering into the settlement agreement is in the best interests of the Company and its shareholders and is pleased to resolve these matters.
In addition, the Company reached a separate settlement with the
Numerous initiatives by legislators and regulators across the globe to regulate Credit Rating Agencies, including the enactment of the Dodd-Frank Act in 2010, have imposed new requirements addressing potential conflicts of interest and procedures to protect the integrity and transparency of rating methodology. The Company and S&P Ratings take compliance with regulatory obligations very seriously and continue to make investments in people and technology to strengthen controls and risk management throughout the organization.
The settlements will be reflected in the Company's fourth quarter and full-year 2014 financial statements to be released on
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