ESMA’s investigation found that flaws in procedures and their implementation at S&P led to the premature release of ratings for securities of six issuers. Deficiencies in S&P’s compliance function were also uncovered during the course of the investigation, along with the finding that S&P “submitted inaccurate and out-of-date information
S&P fined for premature public credit ratings release
Inadequate internal control mechanism and other infringements result in a €1.1m ($1.19m) fine.