The SEC began pursuing more cases in-house under powers granted by the 2010 Dodd-Frank financial reforms.
S&P, a unit of S&P Global Inc, agreed in January 2015 to pay $77 million to settle charges by the SEC and the attorneys general of New York and Massachusetts related to the Duka case.
The case is Duka v SEC, 2nd U.S. Circuit Court of Appeals, No. 15-2732.