POSSIBLE ACTION AGAINST S&P: The Securities and Exchange Commission is considering taking civil action against Standard & Poor's for its rating of a 2007 mortgage debt offering. Should the SEC act, it could be the first shot in a legal assault by regulators against the major credit rating agencies.
RATERS ROLE IN CRISIS: The three major agencies — S&P, Moody's Investors Service and Fitch Ratings — gave high ratings to mortgage investments that turned out to be worthless and contributed to the 2008 financial crisis.
WOULD BE A FIRST: If the SEC charges S&P with violating securities laws, it would mark the first time it's brought an enforcement action against a top rating agency.
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