In the News January 21, 2015

Law360 Quotes Laura Pruitt on SEC’s $77 Million Settlement with S&P

Laura Pruitt, partner in Alston & Bird’s Financial Services & Products Group, noted the significance of the U.S. Securities and Exchange Commission’s (SEC) enforcement of a one-year suspension from rating mortgage-backed securities as part of a $77 million settlement with Standard & Poor’s.

“The SEC appears to be reinforcing a fundamental tenet of securities law: An important participant in the securities offering process cannot represent publicly to investors that it is doing one thing while, in actuality, it is doing something materially different behind the scenes,” said Pruitt.
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