Breaking News: SEC investigating S&P's downgrade of U.S. debt

catbear

(Reuters) - The U.S. Securities and Exchange Commission (SEC) has asked rating agency Standard & Poor's (S&P) to disclose which employees knew of its decision to downgrade U.S. debt before it was announced last week, the Financial Times said, citing people familiar with the matter.

SEC's move is part of a preliminary examination into potential insider trading, the FT said.

The inquiry was made by the SEC's examination staff, which has oversight of credit rating firms, one person familiar with the matter told the newspaper.

However, the securities regulator is not aware of a leak from an S&P insider, nor was it aware of an aberrational trade, the paper said.

S&P and SEC could not immediately be reached for comment by Reuters.

The U.S. Senate Banking committee has begun looking into last week's decision by S&P's to downgrade the U.S. credit rating, a committee aide told Reuters on Monday.

bayliner1979

Misleading title.  Should be "SEC investigating S&P's possible inside trading".

It is said S&P sold a lot before the downgrading.  Obviously some insiders did something illegal.
SEC cannot do nothing about S&P's downgrading US debts, but can do something about inside trading.

dividend_growth

这样可以间接摧毁S&P的信誉，而评级公司靠的就是一个信誉。

ByStander

catbear 发表于 2011-8-12 02:58
(Reuters) - The U.S. Securities and Exchange Commission (SEC) has asked rating agency Standard & Poo ...

其实更应该调查的是S&P及其雇员是否象大户透露了它的决定。看看上周四及周五上午up/down volume的分时数据，很难相信某些大户没有事先知情。